Shopify allows minting and selling NFTs on its platform for merchants after teaming up with GigLabs as we can see more today in our latest cryptocurrency news today.
The multinational e-commerce company Shopify allows minting and selling NFTs on its platform and to provide this opportunity, the company partnered with GigLabs which is an organization that specializes in offering tools to operate with non-fungible tokens. Tobias Lutke who is the Chief Executive Officer at the company revealed a new service on Twitter. The initiative will come under the name NFT Beta program and will be available only for merchants that are based in the United States. The collaboration with GigLabs allowed NFT lovers to purchase digital collectibles by various settlement methods like Shopify payments, credit or debit cards, cryptocurrencies, and Shop Pa:
“Plus, customers can easily claim their NFTs via email and add them directly to their wallets.”
The company clarified that the customers are able to mint non-fungible tokens on different platforms like Ethereum, Near, Flow and Polygon by teaming up with the partner applications. Paul Budnitz who is the founder and CEO of Superplastic entertainment company, described Shopify’s platform as amazing and said it helped his company to associate Christie’s create a very successful NFT drop for Guggimon and Janky. Even though these are the first steps for Shopify in the NFT space, the company is already a part of the crypto bandwagon. In 2020, after a collaboration with BTCPay, it enabled the customers to pay in BTC rather than fiat currencies.
Use Shopify for your NFT dropshttps://t.co/sZwjLZetoU
— tobi lutke (@tobi) December 16, 2021
Non-fungible tokens are unique cryptographic tokens that exist on the blockchain and can’t be replaced as they can represent artworks and track real-world assets. Though NFTs are not invented this year, they managed to garner the attention of people as well as other companies from the types of industries like music, arts, sports, and politics. OpenSea not so long ago surpassed the mark of $10 billion in all-time trading volumes but this number stands at more than $13 billion and it was accumulated by over 1.2 million traders. The success of the platform should be considered huge once since its total volume trading for the entire 2020 was just $21 million. Another statistic showing the growth of the NFT sector is Google Searches of phrases like Buy NFT and NFT as those reached a new high a month ago.
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