The well-known e-commerce platform Shopify now allows merchants to mint and sell NFTs at zero commission.
The Shopify NFT app
This allows users who have their own e-commerce site on Shopify to offer NFT-based products with just a few clicks and a few changes to their existing storefronts. The non-fungible tokens are minted by the platform itself via Polygon.
A few months ago, the platform announced a partnership with TikTok, which opened the door for over 1 million users to sell items on Shopify directly from their videos.
One of the first brands to take advantage of this new opportunity was Kylie Cosmetics, owned by Kylie Jenner, who is also one of the Shopify Plus members to whom exclusive access to the NFT Shopify app is now offered.
Other merchants who have already joined the initiative include:
- Moniker Art Fair,
- JG Contemporary,
- Creative Debuts,
- Bicycle Card,
- Miss J Alexander Crypto Couture
These names are joined by artists such as INSA, 2ALAS.
This is all thanks to the integration of Venly, a blockchain technology provider that offers the ability to coin and sell NFTs. Shopify’s app was co-developed with Venly, and will leverage Polygon PoS technology to reduce minting and transaction fees.
The choice of Polygon
Polygon was deemed a natural choice for this project, as its network already has 5 or 6 times more NFT games and dApps than any other blockchain outside of Ethereum.
It is also already operational within most blockchain-based Web 3.0 games, and NFT platforms, including Decentraland, OpenSea, Sandbox and others.
How to use the app
This app is currently only available to Shopify Plus users, who are offered the chance to apply to join Shopify’s NFT beta program so they can start adding NFTs to their online storefronts.
Once the app is set up, users are free to create unique NFTs and start selling them to their customers. Customers can buy them in exactly the same way as they do their other products, so there is no need for new systems.
Taking ecommerce and NFT to new levels
The app is part of a project to take ecommerce to new levels, pushing forward the boundaries of what users of the platform can do. The fact that current barriers to entry into the NFT market are still high, both for retailers but also, and more importantly, for the average consumer, gives this initiative great potential.
Venly CEO and co-founder Tim Dierckxsens said:
“We’re very proud to integrate our platform with Shopify and receive merchants’ feedback after an extensive development process. We’re honored to share the same vision with Shopify to make digital assets more mainstream and to be chosen to co-develop this app. By equipping one of the biggest web2 platforms with web3 technology, we’re taking a big step in innovating the e-commerce industry and making it future-generation proof”.
Polygon co-founder Sandeep Nailwal added:
“Enabling greater consumer access to this novel tech and all the benefits that come along with it is key to fostering greater adoption in the space”.