GAP is gaining online traction with an NFT collection titled “GAP Threads.” The digital experience allows consumers to purchase Gap’s iconic hoodie, redesigned by Brandon Sines, the artist behind Frank Ape, in both real and blockchain forms.
“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 Brandon Sines.”
-Chris Goble, Chief Product Officer and General Manager of Gap North America
GAP Threads NFTs
The Gap brand is the latest in a slew of big-name firms to jump on the NFT bandwagon, but it has chosen to use Tezos, an open-source blockchain, in order to be more environmentally friendly. Tezos uses a more energy-efficient approach to secure its network and operate with little energy consumption and a low carbon footprint, according to a press release.
Every of Gap’s hoodie NFTs has been categorized by exclusivity, labeled with markers like “Common” and “Rare,” and sorted to “gamify” its collection. The company’s goal is to entice clients to accumulate as many NFTs as possible, offering “Epic” level NFTs with unique digital art by Sines and a tangible Gap x Frank Ape by Sines hoodie to the most passionate fans.
The first-come, first-serve principle applies to all hoodie NFTs. Hoodies from the Ye-backed brand start at around $8.30 and can go as high as $415, rivaling the value (and exclusivity) of Gap’s Yeezy hoodies, which are reselling for up to $235. Still, an NFT produced by the Ye-backed brand isn’t out of the question – when asked about it, a Gap spokesperson replied, “We have nothing to announce right now.” Additional digital experiences are in development “in collaboration with culture shapers,” according to a press release.
Starting on January 13, Gap’s digital collectibles will be available. The “Common” level will go on sale first, followed by additional NFTs rated “Rare” and “Epic.” A “One-of-a-kind” auction will begin on January 24 and conclude the Threads series.