The online commerce platform Shopify is officially entering the non-fungible token (NFT) market through a new partnership with GigLabs. US-based users will be able to try out the new features now
NFTs now available for sale on Shopify
Shopify CEO Tobi Lütke announced via a tweet that the firm will now allow its users to sell non-fungible tokens (NFTs) via its online commerce solutions.
Use Shopify for your NFT dropshttps://t.co/sZwjLZetoU
– tobi.eth (@tobi) December 16, 2021
We told you a few days ago that the co-founder of the famous online commerce company Shopify is no longer hiding his interest in the growing NFT market.
The Shopify platform is increasingly open to cryptocurrencies
It started in May 2020: Shopify was offering its users and their customers the ability to pay for purchases in cryptocurrency at a reduced fee via CoinPayments, following a highly successful beta.
Then, in July 2021, we reported that the Chicago Bulls team had launched an NFT shop in their image in collaboration with Shopify. Customers could then purchase these using the Ethereum (ETH) and Flow blockchains.
A few months later, we learn that the online sales platform is offering its customers in the United States the possibility of selling NFTs directly from their websites.
A project still in beta
As stated on the Shopify website, the beta will initially be limited to US residents:
“If your shop is based in the US and running on the Shopify Plus plan, you can apply to participate in Shopify’s NFT beta program, which allows customers to purchase NFTs from your shop using credit cards and cryptocurrencies. You can accept credit card payments through Shopify Payments and connect to a cryptocurrency payment processor […].”
So good news: customers interested in the service will have the freedom to pay either with a credit card (where possible) or with cryptocurrencies.
Although the project is still only in beta phase, the possibilities are however quite numerous, since sellers will already be able to certify the authenticity of the NFTs offered for sale, but also offer airdrops or reward their community of buyers via loyalty programs
A partnership with GigLabs
Another interesting point is that Shopify Plus sellers will be able to sell NFTs in their storefronts without necessarily having a deep knowledge in the cryptocurrency world.
Indeed, Shopify has decided to collaborate with the company GigLabs, which has been specialising in trading non-fungible tokens (NFTs) since 2017.
Sellers will then have the option of incorporating the integrated “GigLabs NFT App” sales application directly into their site, allowing them to access a set of tools to create, manage and sell NFTs, as well as securely store them and track sales and analytics data.
The application will be built on the Flow blockchain, which already has more than 2 million users and has observed more than 10 million NFT transactions, notably through its NBA Top Shot application.
An initiative to follow closely, therefore
