Shopify Enables NFT Trading and Minting through GigLabs.

Shopify Enables NFT Trading and Minting through GigLabs.
Image featuring Tobias Lutke, Shopify’s CEO; Source: Getty Images
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Shopify, the e-commerce platform, recently enabled NFT trading and minting to its traders. So, the users are now free to sell their own branded Non-Fungible Tokens through their platform.

https://twitter.com/tobi/status/1471530952866340868

About Shopify:

Shopify is a commerce platform, allows users to set up an online store to sell the products. Using Shopify POS, sellers are even allowed to sell the products in person.

The platform allows its merchants to sell all kinds of physical products, digital products, and services. With its user-friendly interface, Shopify makes it a lot easier to sell e-books, audio downloads, e-courses, clothes, jewellery, etc.

Shopify partnered with GigLabs to enable NFT trading.

Shopify has entered the NFT universe with its recent announcement to allow NFT trading and minting. To provide its users with an excellent experience, Shopify has partnered with GigLabs, an organization that offers tools to operate Non-Fungible Tokens.

Note that this initiative of Shopify will be initially available for the merchants of the USA. Also, the merchants must have an established social media presence to make their sales on Shopify.

As a result of the partnership, GigLabs announced the launch of the GigLabs NFT app to Shopify plus users. The app is available on the Shopify App Store. The selling and minting of Non Fungible tokens are going to be powered by Flow blockchain. The reason for choosing Flow blockchain is its eco-friendly design and a proof-of-stake consensus mechanism.

To test the GigLabs NFT app, it has partnered with BreakingT and Infinite Objects to be the app's early adopters.

What is new for the Shopify users?

  • Users are given the freedom to sell their Non-fungible tokens in their own ways. It means that the payments can be accepted using credit cards, Shopify payments, Shop Pay or cryptocurrencies.
  • They are allowed to mint NFTs on many popular blockchains, including Ethereum and Polygon.
  • With a simple claiming feature, customers are allowed to claim the purchase via email and can directly add the purchased NFTs to their wallets.

Closing thoughts

The concept of Non-fungible tokens is not much new, but the year 2021 has indeed seen enormous growth in the NFT industry. Companies and people are giving it due attention, and it resulted in the skyrocketing sales of NFTs this year. Although Shopify has started its crypto journey in 2020 by agreeing to accept Bitcoin in the partnership with BTCPay, with this initiate of Shopify, the NFT industry can experience an excellent start for the year 2022.