Shopify Reveals Range of New Crypto Features

Keys to take

  • Shopify now allows customers and brands to connect through their cryptographic wallets.
  • Leveraging the mechanics of tokenization, the online store now offers merchants the ability to provide exclusive access to products and events to brand token holders.
  • The company also offers convenient NFT coinage and sales features compatible with Ethereum, Solana, Polygon and Flow.

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Shopify today introduced a number of new features, including the ability for online retailers to create “tokengated” stores designed to encourage fans to own branded tokens.

The emergence of “Tokengated” stores.

Shopify is upgrading its platform to allow consumers and merchants to connect through their cryptographic wallets.

According to his website, Shopify is launching a framework that allows retailers to launch “tokengated stores” to which fans can have early or exclusive access, if they own tokens from the particular brand. Limited edition merchandise, experiences, and drops were among the rewards the company suggested to sellers to “encourage” the fandom.

The company now also offers the ability to coin and sell NFT directly from the blockchain and in the online store. A dozen NFT coin applications are suggested to complete the operation smoothly, with Ethereum, Polygon, Solana and Flow listed as compatible blockchains.

In addition, collaborations between retailers will now be possible, and tokengated stores will be able to allow fans of other brands to access their own products for a “big launch or special drop.”

Shopify is a multinational e-commerce company as well as a platform for online stores. More than 1,700,000 companies were using the platform in 2021. This is not their first foray into cryptography: they already had allowed its users to sell NFT in their storefronts last year, and recently integrated Strike to activate Lightning Network transactions.

Today’s revelation was coordinated with the help of popular NFT collections, including Doodles, Cool Cats, and World of Women. Doodles co – founder Evan Keast said the collection “was amazing [its] holders e [given] ownership of a doodle has a whole new meaning “when partnering with Shopify.

Updates were already available in beta, but are now released for all customers. Other features are currently being tested, such as token-enabled mobile stores and experiences in token-enabled stores.

Disclosure: At the time of writing, the author of this piece had ETH and several other cryptocurrencies.

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