Clothing brand Gap has launched its own NFT collection, following in the footsteps of its peers in the face of Adidas and Nike – digital assets linked to physical garments. Gap tokens are based on the energy-efficient Tezos blockchain.
Gap’s collection of NFT tokens is linked to a series of digital images of hoodies, which are differentiated by different “rarity levels” and correspondingly different prices. In the initial phase, basic level items will be available for sale at a price of $8.30. In the coming weeks, “rare,” “epic,” and “unique” items will go on sale, selling for significantly more. The design of the new collection Gap developed in collaboration with the artist Brandon Sines (Brandon Sines), the creator of the character Frank Ape.
Buying a physical garment won’t work without some extra effort – it requires an “epic” level NFT priced at around $415, which includes a digital artwork by Sainz and a Gap x Frank Ape hoodie. But the ability to purchase an “epic” NFT must first be unlocked, which requires the purchase of 4 “regular” and 2 “rare” NFTs – the latter costs around $24.90. Gap calls this complex scheme “gamified experiences” and according to the company, it will encourage fans of the brand to collect NFT tokens that grant access to “epic” ones. Ultimately, such a “gamified experience,” complete with a physical item of clothing, costs buyers an estimated $500.