Tomorrow, the gap for NFTs will be filled: Apparel giant Gap Inc. announced plans Wednesday to release its premiere collection of limited-edition non-fungible tokens, in collaboration with Frank Ape artist Brandon Sines.
The project centers on themes of community, creativity and self-expression and spans both digital and physical products, along with a new gamified experience. According to the company, the digital collection will be available on a first-come, first-served basis and span four levels: “Common,” “Rare,” “Epic” and “One of a Kind.” Common will kick off the sale, starting Thursday at 9 a.m. PST at gap.com/nft.
Gap fans can collect the brand’s hoodie digital art at the Common and Rare levels to earn the opportunity to purchase Epic, limited-edition digital art by Frank Ape and a physical Gap x Frank Ape hoodie.
“With this partnership with Gap, the creative cycle has come full circle as it allows me to express the beautiful messages of Frank Ape while actually collaborating with one of the most classic brands in history,” Sines said.
The company worked with Sines, because it saw a fit between his signature themes of positivity and equality and its own values. “Launching Gap’s NFT platform with Frank Ape is really exciting. We love the message of positivity he brings — the spirit of American optimism,” said Michele Park, senior director of women’s design at Gap. “We’re thrilled to use Gap NFTs as a platform for creatives and change-makers to further amplify artistic voices in the digital space.”
“This is just the tip of the iceberg,” she pledged. “Gap will be pushing the boundaries for what digital assets can mean and unleashing our creativity even further.”
The comment may amount to more than just hype. Its NFTs were built on Tezos, a blockchain platform known for energy efficiency and smart contracts.
While the consumer world focuses on NFTs, blockchain-based contracts have attracted intense interest behind the scenes across multiple sectors. They are considered extremely secure and execute automatically, as soon as particular conditions are met. Given that, the company’s work now could lay a foundation for other efforts, such as tokens that offer access to VIP events, exclusive products, new levels of clienteling and more.
In the meantime, Tezos’ green cred offers a key talking point for Gap. The partner touts low energy consumption and carbon footprint, allowing the company to emphasize the initiative “as part of the company’s commitment to do the right thing for the planet,” according to the announcement.
“As part of our mission to create enduring customer relationships, our teams are constantly innovating,” said John Strain, chief digital and technology officer. “We are excited about the possibilities that a more planet-friendly blockchain technology can unlock for us and all the new ways it will enable us to connect with our customers.”
For Gap’s new breed of digital patrons, the Tezos connection merely shows up in the transactions. The price for the first Common collectibles is set to 2 tez, which equated to roughly $8.30 a piece at presstime.
More drops will follow over the next two weeks, with Rare slated go live on Saturday for 6 tez each, or $24.90, and Epic pegged for Jan. 19 for 100 tez, or $415. One of a Kind will be available via an auction scheduled for Jan. 24. All events will start at 9 a.m. PST.