Gap has made headlines for unusual intersections of culture involvement occasionally, but it wasn’t the first brand that came to mind when we thought of impending NFT releases. Athletic businesses such as Nike and Adidas have begun experimenting with NFTs, and designer labels such as Burberry, Gucci, Louis Vuitton, and many more have been experimenting with novel blockchain and NFT engagement. However, Gap is the most recent garment manufacturer to enter the market, launching a new gamified NFT collection this week.
Let’s look at what we know so far from the initial press release.
Gap plans to release a gamified NFT collection that “activates(s) community, creativity, and self-expression.” They want to accomplish this by collaborating with New York-based artist Brandon Sines, creator of Frank Ape.
The brand highlights common threads in core principles between Sines and Gap in the press release this week, and the two will issue a four-tier, Tezos-based NFT priced at 2 XTZ each piece. The statement also stated that in the coming weeks, buyers might expect a number of different drops priced between 6 and 100 tez. NFTs will be sold on a first-come, first-served basis – with no cap mentioned – so we hope Gap has taken the necessary steps and considerations to avoid any botting.
Tezos appears to have embraced a ‘B2B approach’ while remaining competitive with some of the major competitors as a blockchain often found in the top 50 blockchains by market valuation. While consumer onboarding appears to be more rigid in comparison to some of the market’s largest altcoins, Tezos has done an excellent job addressing enterprise solutions.
One of the year’s greatest headlines for Tezos in 2021 was the blockchain’s partnership with Red Bull Racing, one of the biggest brands in Formula 1 at a time when F1 racing was witnessing enormous growth in the United States fueled by Netflix’s Drive to Survive series.
Last year, the blockchain doubled down, landing Ubisoft as a partner for their first-ever video game NFTs – which, admittedly, have received mixed reviews from traditional consumers thus far. However, these ongoing collaborations demonstrate that Tezos is obviously aiming to be an enterprise solution for firms wishing to study NFTs, with Gap being their most recent large contract.
The Gap NFTs will be available for purchase on gap.com/nft on January 13th at 9 a.m. PT.
