Shopify is going to allow adding utility to NFTs

Shopify is leaning toward NFTs as the future of e-commerce so it announced last Wednesday that it is going to allow brands to make their stores more unique with these non-fungible tokens.

Shopify is a company that allows you to create smaller business’s custom e-commerce stores and is now allowing you to launch these digital marketplaces with NFTs as a new feature.

In a video made by the brand for this new functionality they comment as follows:

“Invite your community into a world that recognizes and rewards loyalty, token owners connect a cryptocurrency wallet to unlock exclusive shopping experiences, from early access to drops and limited collections to unique experiences and other surprises.”

This Shopify store is currently in beta and will be known as “gm”. As such only those with existing NFT collections can apply for early access.

For the time being Shopify has partnered with NFT collections to create tokenized stores:

• Adam Bomb Squad
• Doodles
• World of Women
• Invisible Friends
• Superplastic
• Stapleverse 
• Cool Cats 

In addition, Shopify will add a similar system for its physical stores, this system will be known as “IRL” with which only NFT owners can purchase certain products at that physical location.

Why is this important?

The implementation of Web3 in the future of stores goes through exclusivity. And it gives more value to NFTs, giving a new perspective to people who see NFTs as digital art or “jpg” when they are the owner of an asset which gives rise to being used as membership passes, event tickets, and “keys” that unlock perks.

Shopify was already into the world of NFTs as last year it announced the launch of selling NFTs through its platform. However, it’s good to see companies continuing to step up and look for new ways to implement NFTs and Web3 into their services.