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  4. Gap Gains on Launch of NFTs
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Gap Gains on Launch of NFTs

By Sam Boughedda AiVIF.com — Shares of Gap Inc (NYSE:GPS) rose 6% Thursday after the fashion retailer said it is launching its first collection of NFTs. Gap will use Tezos, an...
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Gap Gains on Launch of NFTs © Reuters

By Sam Boughedda

AiVIF.com — Shares of Gap Inc (NYSE:GPS) rose 6% Thursday after the fashion retailer said it is launching its first collection of NFTs.

Gap will use Tezos, an open source blockchain, to launch the NFTs. They will also be collaborating with Brandon Sines, the artist behind Frank Ape, for the launch of a limited-edition Gap hoodie. 

"Gap has always been at the intersection of music, art and culture, so we are excited about this growth opportunity in the digital space with artists like Brandon Sines," said Chris Goble, chief product officer and general manager of Gap North America. 

The company said in a press release that the first NFTs went on sale today, with additional drops available over the next two weeks.

Gap isn't the first fashion retailer to launch NFTs, with brands such as Gucci, Louis Vuitton and Dolce & Gabbana all getting in on the action.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

1.0658

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 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
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 Allianz266.60↑ Sell
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 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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