Tezos is a coin created by a former Morgan Stanley analyst, Arthur Breitman. It is a smart contract platform which is does not involve in mining Tezos coins. It is a coin that promotes themselves on major ideas of self-amendment and on-chain governance. It is an Ethereum-like blockchain that hosts smart contracts. It allows the community to vote and improve its flaws. Any token holder may delegate their voting rights to others in the network. The coin uses a generic network shell which allow different transaction and consensus protocols that a blockchain needs to be compatible.
The collection, in partnership with artist Brandon Sines, is comprised of NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). with four levels of rarity. The experience includes access to exclusive physical garments from the brand.
The well-known clothing brand GAP has just become the latest company in the fashion industry to jump on the bandwagon of the tokens no fungibles (NFT).
GAP announced Wednesday that it is preparing to launch its first collection of NFT on blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Tezos . The collection was created in collaboration with InterPop a study that take advantage of the network a network refers to all nodes in the operation of a blockchain at any given moment in time. Tezos and will be designed by Brandon Sines the digital artist behind the animated creature project ‘ Frank Ape ‘ .
The initiative is part of GAP’s attempt to provide its customers with a digital experience. To do so, the brand explained that it will offer a gamified experience by allowing users to collect digital art at different levels, as well as access to exclusive apparel. The product director and general manager of GAP North America, Chris Goble, commented on the initiative in a statement:
GAP has always been at the intersection of music, art and culture, so we’re excited about this opportunity to grow in the digital space with artists like Brandon Sines.
GAP launches its first NFT collection
The NFT pieces will be available for sale starting Thursday, January 13 and can be purchased via thesitio web oficial de GAP. The collection will feature pieces of four levels of rarity, which will be released progressively.
The common NFTs will be released first at a price of 2 XTZ, the native currency currency is a medium of exchange that defines value. of Tezos The second tier of rarity will go on sale on January 15 at a price of 6 XTZ, or $26 at current prices. Epic-level pieces will follow on January 19 at 100 XTZ, or $440 each. Finally, the exclusive edition NFTs, “One Of A Kind“will be auctioned at the end of the month.
Owners of the epic level pieces will also receive an exclusive physical hoodie from the brand. GAP y Frank Ape of Sines. In addition, the company will have a game model that will allow collectors of common and rare NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. to “unlock” the ability to purchase epic level NFT.
While it is not very clear how it will work, nor what the benefits will be for those who access the limited NFTs of the “NFTs”.One Of A Kind“The company noted that they hope the project will give them insight into how customers want to engage in the digital world. They also said they plan to explore additional digital experiences in the future.
Talking about the project with Decrypt , Brian David-Marshall, presidente de InterPop said the NFTs ” provide unique opportunities for brands to connect directly with consumers by transforming the way they … can interact with their customers. ”.
We continue to uncover exciting opportunities for brands and creators to use NFT to unlock access to new products and bridge the gap between physical and digital ownership.
Fashion brands seek to expand their digital digital technologies are these electronic tools that have the ability to generate, store or even process data. presence
The news comes at a time when an increasing number of fashion brands are making inroads into the NFT space. Just a few weeks ago, Adidas announced the launch of its first NFT collection in collaboration withBored Ape Yacht Club. Similar to the GAP project, the NFTs of Adidas will also give access to exclusive clothing.
Last year, la marca italiana de moda de alta costura Dolce & Gabbana had partnered with the luxury marketplace UNXD, based on Polygon to launch its NFT collection, which ended up raising more than $5 million. Other fashion brands, including sports giant Nike have also explored the NFTs and the metaverse.
Expansion into virtual spaces could benefit brands and help them recover from the losses generated by the production and distribution problems caused by the pandemic. According to Wall Street Journal GAP recorded a loss of USD $300 million. for the quarter ended October 30 after experiencing supply chain issues during 2020.
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Article versioned by Hannah Estefania Perez / DiarioBitcoin
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