American retailer Gap has made its foray into the NFT scene with the debut of its first collection of NFTs. Gap said in a statement that the launch comes as part of the brand's efforts to bring the brand and its products to "new and existing customers in a rapidly evolving digital ecosystem".
The NFTs were designed partnership with Frank Ape artist, Brandon Sines. According to Gap, community, creativity, and self-expression are core values in Sines’ art; which embodies positivity and equality, and aligns with Gap’s values of modern American optimism.
Sines said that he cannot wait to share the jointly created physical and digital pieces with Gap and Frank fans worldwide. "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 collaborating with one of the most classic brands in history," he added.
Gap's NFTs will feature four tiers: common, rare, epic, and one of a kind. Common and rare tiered NFTs are currently on sale, while epic NFTs will roll out on 15 January. The one of a kind NFT will be unveiled and placed for auction on 24 in limited quantity. Gap has also integrated gamified aspects, where fans have the opportunity to snag themselves a limited edition, collectible Gap hoodie. To claim a collectible Gap hoodie, fans will have to collect four different common NFTs and two different rare NFTs, which can then be fused to unlock a special collector's NFT. The special NFT will grant fans an opportunity to purchase the epic NFT and the Gap x Frank Ape by Sines hoodie.
Chris Goble, chief product officer and GM of Gap North America, said, “Gap has always been at the intersection of music, art and culture, so we are excited about this growth opportunity in the digital space with artists like Sines."
Despite its venture into the NFT scene, Gap remains committed to doing the right thing for the planet. It tapped on Tezos, an open source blockchain that adopts a more energy-efficient approach to secure its network, to create the customer experience.
Following its first move in the NFT scene, Gap plans to learn more about how its customers want to engage in a digitally led world. To that end, Gap revealed that more digital experiences, developed in partnership with "culture shapers", are in the pipeline.
John Strain, chief digital and technology officer, said that it is constantly innovating as part of its mission to create enduring customer relationships. "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.” MARKETING-INTERACTIVE has reached out to Gap for comment.
Gap is not the first fashion retailer to foray into the NFT scene this year. Tiger Beer recently partnered with Malaysian streetwear brand, Pestle and Mortar Clothing (PMC), to launch an NFT collection of "Lucky Tigers". Dubbed as "The Tiger Archives", the collection features PMC's take on Chinese archival tiger artwork. The artwork for the NFT also features unique and hand-drawn images of Tiger Beer's bottles. The NFT collection is open for public mint on 25 January and each NFT will be sold at approximately RM720, at the time of writing. Additionally, 30% of all proceeds from "The Tiger Archives" will go toward supporting local musicians and artists throughout 2022.
This month also saw Mattel partner with French luxury fashion label, Balmain to release an imminent collection and a series of exclusive NFTs. According to Mattel, the collection was developed as a celebration of both Barbie and Balmain’s combined impact on fashion and greater culture. This collaboration also marks Barbie's first debut in the digital art world, with three one-of-a-kind NFTs of Barbie and Ken avatars. The avatars are styled on complete looks from Balmain's designs and are each accompanied by a one-of-a-kind bespoke set of Barbie-sized Balmain pieces, creating a unique digital and physical art collection. The NFTs will be available for purchase from 11 January, through Mattel Creations via an online auction hosted on mintNFT.
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