Friday, March 29

Trendy NFTs: Gap sticks to non-fungible tokens


Non-fungible tokens (better known as NFTs) are gaining more and more prominence. Large companies, such as Nike, which recently announced the acquisition of manufacturer NFT RTFKT, are already looking to secure their share of the crypto market.

This time, who decided to enter the universe of NFTs headfirst is Gap, a fashion company known for its striking sweatshirts. And the NFTs released by Gap this Thursday (15/01) could not be different, focusing on the brand’s hoodies. The launch lifted the company’s shares by about 5%.

Gap’s NFTs were produced in collaboration with Brandon Sines, who was responsible for the Frank Ape cartoon, and are hosted on the Tezos Blockchain. The choice for this Blockchain is linked to the fact that Tezos uses an energy-efficient approach to securing its network.

It’s an interesting move, particularly given the fact that the big criticism aimed at NFTs has to do with the cryptocurrencies needed to buy them had a large carbon footprint.

Gab’s NFTs will be priced between around $8.30 and $415, the latter being a collectible that comes with a physical hoodie. But prices may vary depending on the value of the cryptocurrency used in purchases.

NFTs are so popular that, in addition to Nike and the Gap, toy company Mattel recently released non-fungible token versions of its Barbie doll and Hot Wheels stroller lines.





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