Shopify integrates NFT-gated option for online retailers
Shopify, the online shopping giant that allows small businesses to create custom e-commerce shops, announced that it would be launching NFT-gated storefronts as a new feature for brands looking to make their stores more exclusive and to increase its connections with existing customers.
In an announcement video released by Shopify, a narrator calls on investors and users to ‘Invite your community into a world that recognizes and rewards loyalty.’ The narrator in the video is a skateboarding woman who enters a pastel portal before morphing into a Doodles NFT character.
‘Token holders connect a crypto wallet to unlock exclusive shopping experiences, from early access to drops and limited collections to one-of-a-kind experiences and other surprises,’ the video explains.
Shopify’s ‘gm’ shop, also known as gated merch, derives its name from a pun on the Crypto Twitter acronym ‘good morning’ is currently in beta, and only users with existing NFT collections can access the shop. However, those who are not yet approved can still access an NFT token-gating app like Shopthru or Single to their Shopify storefronts.
Token-gating is a way to add more value to an NFT by giving the NFT holder exclusive access to a community, content and physical merchandise.
Shopify also revealed it has formed partnerships with the Adam Bomb Squad, Doodles, World of Women, Invisible Friends, Superplastic, Stapleverse, and Cool Cats NFT collections to create token-gated storefronts.
Moreover, Shopify will also add an ‘IRL’ token-gating at brick-and-mortar stores, which means eligible NFT holders can purchase select merchandise at physical locations.'
This isn’t the first foray Shopify has made into the NFT space and it has been immersed in Web3 for a while. Last year, the company announced the rollout of NFT sales through its platform. Brands can mint and sell NFTs to customers on Ethereum, Polygon, Solana, or Flow.