Gap taps NFT craze by taking classic hoodies digital

FILE PHOTO: The sign for a Gap store is seen on 5th avenue in midtown Manhattan in New York June 16, 2015. REUTERS/Brendan McDermid/File Photo

(Reuters) - 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.

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.