Old Navy Licenses BAYC NFT for Latest T-Shirt Release
Hinting at other NFT licensing deals from popular brands for its upcoming seasonal lineup.
On Friday, apparel brand Old Navy revealed a collaboration with Bored Ape Yacht Club (BAYC), depicting another industry-wide application of NFT intellectual property (IP) licensing between a major clothing brand and the popular NFT project.
The gender-neutral t-shirt, which has a $19.99 USD price tag, depicts BAYC #7285 and comes in a heather gray color referred to by the brand as “Bored Ape.” The short-sleeved rib-knit crew neck is made of 100% cotton and features a Bored Ape graphic across the chest.
The product is available online through Old Navy’s parent company, Gap.
👀 @OLDnavy x @BoredApeYC
h/t @katelin_cruse pic.twitter.com/5V8WYjPkgT
— AlexisOhanian7️⃣7️⃣6️⃣ (@alexisohanian) July 15, 2022
This latest collaboration adds another brand-building exercise on individual Ape licensing while pushing Old Navy to stay relevant in the cross-section of NFTs and legacy fashion. There will reportedly be six different Bored Apes, 11 Mutant Apes, one CryptoPunk, and six CLONE X NFTs from RTFKT in development for this season’s Old Navy collection.
Women’s fashion retailer Fashion Nova also released its own Bored Ape t-shirt, which leverages the Bored Ape intellectual property. Other BAYC collaborations include streetwear brand The Hundreds, Adidas, PrettyLittleThing, and China’s sportswear brand, Li Ning.
Earlier this month, blockchain accelerator Mouse Belt Labs launched its Boredjobs marketplace, claiming that it will list all 10,000 BAYC NFTs on its website for brands to browse through and “indicate interest in hiring for campaigns.”
While the decision on whether to license an individual Bored Ape lies solely within the respective BAYC owner’s discretion, the ability to view potential collaboration offers gives BAYC owners a significant opportunity to fully leverage the benefits of the IP rights granted by Yuga Labs to owners.
In other news, a conversation with Grant Yun, an up-and-coming Neo-Precisionism NFT artist.
For more news about blockchain, cryptocurrency, NFTs, and Web3, visit Hypemoon.com.
