How to Sell NFTs on Your Shopify Store – A Complete Beginner’s Guide

The adoption of blockchain technology in the e-commerce space has brought the needed transparency in digital transactions. Along with that, several web2 companies are now showing interest in non-fungible tokens (NFTs), thanks to the growing demand for these digital art pieces. Many traditional firms are exploring ways to make NFTs more accessible and user-friendly.

This guide will focus on one of the largest e-commerce platforms, Shopify. After reading the entire article, you should be able to create and sell your own NFTs on Shopify.

Technical Barriers Slowing Down NFT Adoption

The main challenge making NFT mainstream adoption difficult is the technical complexities around blockchain technology and using crypto wallets. Web2 firms find integrating crypto into their business models tough because its use requires specialized knowledge. At the moment, not many people understand how blockchain technology works. However, the Venly Shopify App has made it possible for anyone to create NFTs with ease.

Here is how you can use the app to create and sell NFTs on Shopify:

Create the NFT

Through the Venyl Shopify App, you can design an NFT and customize various details like its title, price, quantity, and description.

Display in the Shopify Storefront

After creating the NFT, you can showcase it as a product within your Shopify store. Ensure to add more information about the NFT to persuade customers to purchase it. For example, you can describe the NFT’s uniqueness and the value it brings to the potential holders.

Automated Minting

Once a customer purchases your NFT, the Venyl Shopify App automatically handles the minting process. As of June 2023, the protocol only mints NFTs on three blockchains: Avalanche, Hedera, and Polygon.

Wallet Creation

For a better user experience, Venly Shopify App creates a crypto wallet for all NFT customers who do not own one. This has removed the primary obstacle preventing people from entering the NFT space. That said, after an NFT is minted, the customer will find it in their newly created wallet.

Track Sales

The Venyl Shopify App allows you to monitor the sales of your NFTs through the “Orders” tab. You can also check how many NFTs have been minted within a specific timeframe. This allows you to determine if your digital art pieces are in demand or not.

Set Exclusivities

Shopify allows you to establish exclusivities for your NFTs. You can choose to launch a limited-edition collection or cap the supply of your NFTs to ensure scarcity. Any of the two moves can help boost the value of your digital assets.

What Does This Mean for the E-commerce Space?

By providing easy-to-understand and use platforms for people to create and sell NFTs, e-commerce companies are slowly removing the technical barrier that has kept many individuals away from the blockchain industry. In addition, the adoption of NFTs has helped these firms find a new way to generate income.

As for NFT creators, they no longer need to hire a big team to help them develop a project thanks to platforms like Venyl Shopify App, which simplifies the NFT creation process.

Other Traditional Companies Adopting NFTs

Several traditional firms have announced plans to explore the NFT space over the last two years. Most of them are promising to use NFTs in innovative and interesting ways. Some of those companies include Adidas and Nike.

At the start of the year, Nike announced the release of its Polygon-based digital sneaker NFT collection dubbed Our Force 1. Prior to this, its main rival Adidas had also launched its NFT collection titled ALTS Dynamic in early 2022.

As more companies continue exploring NFTs, we may soon see merchants and collectors from all walks of life do the same, thus opening possibilities for the mainstream adoption of these virtual assets.

Conclusion

Shopify enables Web2 users to enter the blockchain industry without extensive knowledge about this space. By making the NFT buying process simple, the e-commerce platform plays a significant role in ensuring a smooth Web2 to Web3 transition.

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