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Sunday, January 23, 2022

Gap releases its first NFT collection, starting from around Rs 665 onwards

Gap, an international clothing brand, has entered the non-fungible token (NFT) marketplace in collaboration with New York-based artist Brandon Sines and open-source blockchain platform Tezos. Artist Signs, who created the popular cartoon Frank Ape, has created a collection of Gap’s signature hoodies. These collectibles come in four tiers based on price and availability – Common, Rare, Epic and One-of-a-Kind. Buyers of Epic-level NFTs will receive an exclusive physical Gap x Frank Ape hoodie, while buyers of common, rare NFTs will get the opportunity to ‘unlock’ Epic NFTs.

Gap’s common NFTs will be available to buy with two Tezos XTZ 2s from January 13, which will cost $9 or approximately Rs.665. Investors will be able to buy Rare NFTs for XTZ 6 ($26 or approximately Rs 1,922) from January 15. The Epic NFTs will be available for XTZ 100 ($436 or approx Rs 32,234) from January 19, while the one-of-a-kind NFTs will go on sale from January 24.

Buyers of the Gap epic NFT will also receive a special GAP x Frank Ape hoodie, and Gap Threads will feature a gamification model that will help collectors of common and rare NFTs to “unlock” the ability to purchase the Epic NFT.

According to Gap, customers need to complete a collection of four common and two rare NFTs to unlock the limited edition Epic NFT. Customers who purchase the Epic NFT will be able to redeem a hoodie designed by Brandon Signs.

Through a press release, the company has said that the company is planning to increase its focus towards this, and is trying to know how their customers want to connect with the company in this increasingly digital world.<!–

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Damini Sharma
Experienced Senior Content Writer with a demonstrated history of working in the information technology and services industry. Skilled in SEO Copywriting, Web Content Writing, Storytelling, Blogging, and Social Media. Strong media and communication professional with a mass communication focused in Journalism from Sjmc davv indore.
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