Gap, a well-known American clothes company, aims to grow its business by launching a gamified NFT line. The development will encourage creativity and innovation. It will also be implemented on the Tezos network.
To become more environmentally friendly, Gap picked the blockchain. Tezos, an open-source blockchain, employs more environmentally friendly practices to make its network safe. Furthermore, this enables it to operate with a low carbon footprint and little energy use.
Due to its appeal and uniqueness, the NFT market is gaining favor among excellent enterprises and society. On Wednesday, Gap announced the launch of its new collection. They’ve teamed up with Brandon Sines, an American artist. Frank Ape, founded in 2010, is his company. Sines created many variants of Gap’s iconic hoodie, which are now available to the public.
Benefiting from partnership
GAP North America’s Chief Manager, Chris Goble, said they chose NFTs because they want to expand into culture, music, and art.
They would benefit a lot from the partnership, according to Sines. He thought he’d be in a terrific position to write Frank Ape some lovely letters. He expressed his excitement to show his supporters what the relationship had in store for them, promising that he would not let them down.
The Gap NFTs will be available on the company’s official website starting January 13th. Users have unique access to them. Rare, Common, Epic, and One-of-a-Kind will be among the digital collectibles available.
Customers may purchase the pieces for 2 Tezos (about $8.8) apiece during this event, until January 15th. In addition, additional Gap NFT drops will be available, costing between 6 to 100 Tez each. They will be available on a first-come, first-served basis.
The market for NFTs
According to DappRadar, the sales volume of NFTs exceeded $24 billion last year and is expected to reach about $95 million in 2020. DappRadar uses information from many blockchains to determine who owns the NFT.
NFTs, like digital assets, preserve a digital record of ownership via blockchain technology. However, because they were founded on ethereum, most NFTs may still only be purchased using ether.
Gap aims to gather experience and understand more about its clients with this advancement in the trending arena. They will be able to choose what they want from the digital world due to this.