Since Adidas, Nike, and Macy’s have all stepped into the NFT market recently, Gap has followed suit. The Tezos blockchain, on which the NFTs are built, promotes itself as a more energy-efficient alternative.
Digital sweatshirt art with varying levels of rarity and price is the form of the NFTs, which can be purchased at various price points. Pieces of common level are on sale today, starting at about $8.30, or 2 tez. There will be new tiers of rarity, epic, and one-of-a-kind items available in the coming weeks. GAP is working with Frank Ape-creator Brandon Sines to create new designs.
Gap is launching NFT Hoodie Art
You may get your hands on the epic level NFTs for $415 (100 tez), which feature digital artwork by Sines and a physical Gap x Frank Ape sweater. In order to get their hands on an epic NFT, buyers will first need to acquire four common and two rare NFTs (priced at 6 tez, or around $24.90). To reach the epic level, fans will need to gather hoodie art, which Gap describes as a “gamified experience.” Around $500 is spent on this gamified encounter. There’s also a 50% off deal at Gap right now, which takes the price of men’s hoodies down to around $25.
Over the past few years, Gap has retreated from the malls where it was once a regular presence. Announcing the closure of 350 Gap and Banana Republic shops across North America in October 2020, the corporation made the announcement in earnest.
This isn’t the first time Gap has released a special edition drop, despite the fact that it’s been NFT-ified. As of September, the Yeezy Gap Hoodie had sold more than any other item in a single day, according to Gap. Gap claimed that 70% of their customers were new to the brand.