Gap Releases Its Line of NFTs On Tezos

Gap, a global clothing brand based in San Francisco, has recently released NFTs, named Gap Threads. Designed by renowned artist Brandon Sines, these NFTs will be powered by the Tezos blockchain. An NFT is a Non-Fungible Token, as in it is unique and cannot be exchanged for another one. NFTs have proven to be a rising trend in the digital investments sector.

Gap’s single NFT currently goes amounts for approximately $8.41 Tezos coins– XTZ. These NFTs can be purchased on the company’s website. Gap also plans to give away free hoodies on the purchase of specific NFTs.

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This is Gap’s first venture into the NFT market, entering the bandwagon along with other brands like Adidas, Macy’s, Dolce and Gabbana, etc. They have partnered with a gaming and other collectibles company- InterPop for this venture.

The digital hoodies come in tiers of four, which go as following- Common, Rare, Epic, and One-of-a-Kind. People who buy the Epic-level NFTs will be eligible to receive an exclusive gift of real physical Gap x Frank Ape hoodie. It is not that the buyers of the previous two tiers do not get anything else, they are also able to get hands-on a way to unlock the ability to purchase an Epic-tiered NFT.

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The Sines-designed NFTs will be one by one, spanning over the month of January, according to a statement from the firm. As for their release dates, Gap’s Common NFTs have been available since 13th January and costs approximately two XTZ. Rare NFTs have been on sale from 15th January and amount for 6 XTZ. Epic NFTs will be on sale on January 19 for XTZ 100. Lastly, the One of a Kind NFT, which will have a single edition, is set to be auctioned from 24th January.

The President of InterPop, Brian David-Marshall said in a statement to Blockworks – “These NFTs will unlock an opportunity for fans to get their hands on an exclusive real-world apparel drop from this collection. This is a great example of how NFTs are empowering creators and brands globally to connect with their fan bases on new levels,”.

To conclude, we can say that NFTs are no longer a mere source of investment to the people anymore. It has now also become a way for brands to show their digital presence and eventually enter the metaverse.

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