<p id="thickbox_headline">Gap Inc on Thursday launched non-fungible tokens (NFTs) of its iconic hoodies, sending the apparel maker's shares about 5% higher as it became the latest major retailer to dive into the world of speculative crypto assets.</p>.<p>The more than 50-year-old company's push to sell virtual assets for real money follows similar moves by clothing companies such as Nike Inc, which last month announced the acquisition of NFT maker RTFKT.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/international/barbie-x-balmain-toys-could-be-the-next-fashion-biggie-1068446.html" target="_blank">Barbie x Balmain toys could be the next fashion biggie </a></strong></p>.<p>Mattel Inc has also launched NFT versions of its Barbie and Hot Wheels lines.</p>.<p>NFTs, a type of digital asset, have exploded in popularity this year with artworks selling for millions of dollars.</p>.<p>Gap said its NFTs will be priced in tiers ranging from about $8.30 to $415 for a collectible that comes with a physical hoodie. Prices can fluctuate with the value of the cryptocurrency used for making purchases.</p>.<p>The company is collaborating with Brandon Sines, the artist behind the Frank Ape cartoon, on the NFT collection that is being hosted on the Tezos blockchain.</p>.<p>Gap said Tezos uses an energy-efficient approach to secure its network. The crytpocurrencies needed to buy NFTs have been criticized for their large carbon footprint.</p>
<p id="thickbox_headline">Gap Inc on Thursday launched non-fungible tokens (NFTs) of its iconic hoodies, sending the apparel maker's shares about 5% higher as it became the latest major retailer to dive into the world of speculative crypto assets.</p>.<p>The more than 50-year-old company's push to sell virtual assets for real money follows similar moves by clothing companies such as Nike Inc, which last month announced the acquisition of NFT maker RTFKT.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/international/barbie-x-balmain-toys-could-be-the-next-fashion-biggie-1068446.html" target="_blank">Barbie x Balmain toys could be the next fashion biggie </a></strong></p>.<p>Mattel Inc has also launched NFT versions of its Barbie and Hot Wheels lines.</p>.<p>NFTs, a type of digital asset, have exploded in popularity this year with artworks selling for millions of dollars.</p>.<p>Gap said its NFTs will be priced in tiers ranging from about $8.30 to $415 for a collectible that comes with a physical hoodie. Prices can fluctuate with the value of the cryptocurrency used for making purchases.</p>.<p>The company is collaborating with Brandon Sines, the artist behind the Frank Ape cartoon, on the NFT collection that is being hosted on the Tezos blockchain.</p>.<p>Gap said Tezos uses an energy-efficient approach to secure its network. The crytpocurrencies needed to buy NFTs have been criticized for their large carbon footprint.</p>