Focus on Shopify’s New NFT Feature: Tokengate

Ecommerce solution Shopify recently launched more than 100 new features, including NFTs, that put merchants around the world in control of the tools and technology they need to engage and connect with consumers.

Shopify: What’s It For?

Shopify is an ecommerce platform that works both online and offline to create a website with your online store. It is sold as a subscription service so there is no need to put together web development stuff like domain name, third party theme and hosting. Most of the tools you need to manage your online store are included in your Shopify plan.

Shopify is ideal for those who own or acquire products and want to sell them online. You can sell furniture and jewelry, and digital products like e-books. All these companies work very well on Shopify as it provides an ultimate solution for sales and payment methods. Not to mention that you don’t have to be a designer to create a professional website.

Shopify adds NFT to its platform.

Source: Cryptoshit Compra

Shopify has introduced NFT integration among other features in its new biannual product showcase called Editions. According to the launch, the new way of engaging with customers through NFTs is a technique to express the company’s belief in “unlimited games”.

Now Shopify users can link their crypto wallets to stores on the platform to verify that they own a specific NFT. This gives access to valuable offers such as authentic experiences and exclusive content or merchandise. Shopify calls this “tokengated”.

So Shopify founder and CEO Tobi Lütke said:

“We are constantly pushing the boundaries of what is possible for entrepreneurs. †

After testing in beta mode, the feature is now available to all traders worldwide, by invitation only, with a small number of traders with NFT collections.

NFT craze.

Shopify’s integration of NFT functionality helps at a time when so many big names are crushing NFT. As reported by Cryptonary, Meta recently announced plans to soon allow creators to showcase their NFTs to the world and make money through Instagram Stories.

Also Read: Shopify Unveiled Over 100 New Features

Indeed, the recent conference of the NFT. NYC on Digital Assets was held in Times Square, where artists, designers, NFT entrepreneurs and entrepreneurs take the stage to discuss fashion, NFT and e-commerce.

NFT tokens for merchants.

Shopify: This feature provides the ability to create NFTs.
Source: Boursorama

Shopify’s goal is to make it easier for online stores to create and use non-exchangeable tokens. So, one of the features available is the ability to create NFTs on blockchains, Polygon, Ethereum, Solana, and Flow.

To do this, customers can link their wallets to an online store. But merchants can also choose to partner with other brands that offer their own NFTs and related experiences.

Shopify connects online merchants with partners who specialize in selling merchandise. However, it allows stores to reward token-holding customers with products according to their brand.

A blockchain strategy with Shopify.

Shopify allows online stores to reserve certain products, discounts, or favorites only for specific NFT holders. Shopify’s token gating app partners let you select certain NFTs and smart contracts to choose what they grant access to.

For Shopify, this feature allows ecommerce merchants to develop a blockchain strategy such as building a community, building customer loyalty, or increasing sales.

Shopify has identified several use cases for Tokengated commerce: exclusive access to offers, partnering with other brands using tokengating, eligibility for airdrops, and even building online communities.

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