Non-fungible tokens or NFTs have created quite a buzz in the world of blockchain right now. The unique features and value advantages with NFTs have spurred the interest of many large-scale businesses in NFT adoption. NFTs are basically digital assets developed on blockchain technology with the advantage of securing transaction data. It is possible to represent any physical asset as NFTs if the asset offers adequate prospects for digitization.
With the conversion of video clips, music files, artworks, and collectibles to NFTs, many people are interested in learning how to sell NFT on Shopify. The newly developed interest is rightly valid, with Shopify enabling NFT merchants to sell directly through their personal storefronts. The following discussion dives into the process for building your NFT storefront on Shopify.
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Are Shopify and NFTs Built for Each Other?
Before diving right into the NFT Shopify connection, it is important to understand each of them. Shopify is basically an ecommerce platform that helps users in creating their online storefronts. Interestingly, Shopify also allows business owners to sell physical items at different brick-and-mortar locations by leveraging their POS app. Shopify has been a top favorite of online entrepreneurs in starting with their online business ventures.
NFTs or non-fungible tokens, on the other hand, are digital assets that represent unique real-world assets such as property or artwork. The popularity of NFTs has been skyrocketing in recent times, with many high-profile sales listed in NFT auctions. However, many people have been wondering about ‘can you sell NFT on Shopify,’ especially considering the fact that Shopify is the preferred choice of ecommerce merchants.
Must Read: Future Applications And Challenges Of NFT
Examples of NFT Sale through Shopify
Interestingly, there have been recent developments in the initiatives for selling NFTs through Shopify. The Chicago Bulls of the NBA launched their first-ever NFTs in July 2021 alongside digital artwork of NBA championship rings. The best thing about the example of the Chicago Bulls is that they launched an online store on Shopify. Rather than visiting an NFT marketplace, the fans could now directly purchase digital art from the online store of the team by using their credit or debit cards.
The NBA team was successful in selling out all NFTs within just 90 seconds of issuing them. According to the VP of Merchant Services for Shopify, purchasing NFTs on credit cards was the conventional norm. The VP also added that NFT’s purchasing experience outside Shopify ecosystem does not appeal to people. Therefore, the new Shopify NFT blockchain connection could help consumers in accessing additional options for purchasing NFTs.
Shopify is quite clear that it would simplify the process of selling NFTs for merchants. Merchants could select the blockchain they would like to sell on according to their products and target customers. The support for multiple blockchain networks on Shopify can deliver the required advantage. Most importantly, merchants and buyers don’t have to be fluent in crypto-related concepts.
Merchants could select the blockchain supported for specific NFT marketplaces where they want to sell. The VP of Merchant Services for Shopify, Kaz Nejatian, has informed the Chicago Bulls went with the Flow blockchain to issue their NFTs. He also added that Shopify merchants presently have the option of selecting from Flow and Ethereum. In the long run, the Shopify NFT blockchain selection flexibility would increase with the choice of other blockchain networks on Shopify.
Want to buy & sell NFTs? Check out this detailed guide on how to buy and sell NFTs.
Why Shopify Enabled NFT Stores?
Many people would wonder about the potential factors which went into enabling support for NFT trading through Shopify storefronts. The most prominent driving factor behind this improvement refers to the demands of merchants for the ability to sell NFTs. In addition, Shopify aims to offer creators and artists a credible forum to achieve professional growth. The NFT Shopify relationship would enable creators to receive actual value from selling NFTs to their collectors and fans.
As a result, creators and buyers would experience limited friction with improved possibilities for monetization of their work and connection with the audience. Shopify aims to create ecosystems that could encourage fans to establish relevant and meaningful connections with the creator’s brand. In the long run, NFTs could become a major part of online commerce.
Aspiring to know about the different use cases of NFTs? Check out this detailed guide here to get a better understanding of NFTs And Their Use Cases.
Adoption of NFTs on Shopify
The value of NFTs has encouraged many businesses to develop their personal NFT marketplaces. non-fungible tokens offer exceptional flexibility with implementation of many new development protocols for higher profit. Most important of all, the flexible integration of NFTs with ecommerce platforms such as Shopify presents promising chances for users to generate higher revenue. So, why is it reasonable to sell NFT through Shopify?
For starters, Shopify enables merchants to develop their online storefront without any technical knowledge. The advantage of customization in Shopify ensures that merchants could customize their storefront according to their needs. Shopify also helps in secure storage of an unlimited amount of customer data.
Interestingly, Shopify also allows users for automation of the fulfillment process associated with third-party shipping applications. Most important of all, Shopify provides exceptional support for different types of payment gateways, thereby enriching the possibilities of adopting Shopify for selling NFTs through your own storefront.
While it is clear that Shopify is a popular choice for selling NFTs through your own storefront, it is important to know the process of how to sell NFT on Shopify. You get a user-friendly interface and ease of operating the Shopify platform. However, it is important to know what exactly goes on in selling NFTs on Shopify.
Also Check: Step By Step Guide To Mint An NFT
Steps for Creating your NFT Storefront on Shopify
One of the first things to keep in mind while finding answers to selling NFTs on Shopify is that you would need your own storefront. Now, you would be wondering, ‘How would I create an NFT store on Shopify?’ and that is basically the whole point of this discussion. In order to create an NFT Shopify storefront, you must choose a monthly paid subscription. At the same time, you should also select an ideal theme for your NFT storefront. Without wasting any further time, let us dive right into the steps for creating your own NFT storefront on Shopify.
- First of all, you need to access the Shopify website through your browser. You can check out the free trial registration page and get your free trial on Shopify with a relevant email address.
- You can claim the 14-day free trial by entering some important details in the registration process. Users have to enter some details about themselves and their business alongside their objectives of using Shopify platform. Then, the page would direct you to the backend office or the panel which you will use for controlling your online storefront.
- The next important requirement to sell NFT through Shopify would focus on the subscription plans. You can discover three unique subscription plans on Shopify. Beginners could start off with the Basic package, which is priced at almost $29 per month. In addition, you have the flexibility of upgrading your subscription plan along with the growth of your business.
- You could use the 14-day free trial to your advantage with your Shopify NFT blockchain storefront. The free trial lets users try out the functionalities of Shopify without any additional costs. Most important of all, users could set up their store and customize it with the free plan. Then, users could add their NFTs to the storefront and sell them to interested buyers.
- Another crucial aspect in an NFT storefront on Shopify would refer to the option of customizability with themes. Although you can find basic and free themes for your storefront on Shopify, it is reasonable to choose premium themes. Premium themes could help you achieve better speed alongside additional features and functionalities for your storefront. So, where do you purchase the premium themes for your NFT Shopify storefront? Your answer lies in the Shopify theme store, where you could come across a wide range of professional themes. In addition, you can also try out some external theme marketplaces to find the desired theme for your NFT storefront. The theme of your NFT storefront also contributes to the aesthetic value of the brand of the NFT creator. Some of the trusted external theme marketplaces for Shopify include Creative Market, Template Monster, and Theme Forest.
- Therefore, you can clearly notice that you would need only $210 for getting started with an NFT storefront on Shopify. However, you can clearly notice how the premium subscription plans could offer additional functionalities for your NFT storefront. After selecting the subscription plan and theme for your NFT storefront on Shopify, you would move to the next step.
- Users should enter some important details of the store to sell NFT through Shopify. The important details requested in this step include the name of the products, their categories, price range, along with a detailed description and other information.
- After the customization of your online NFT storefront on Shopify, you must move to the backend section again. The backend section of Shopify would now help the user in dropping their products or NFTs for sale on Shopify. It is important to note that users must have NFTs that are ready to drop on Shopify. So, users should start with the creation of an NFT, most possibly through minting them in an NFT marketplace such as Rarible or OpenSea.
- Once you are done with dropping the NFTs into the platform, you have the perfect Shopify NFT blockchain platform to enable sale of the NFTs.
Confused to differentiate Mintable, Nifty Gateway, OpenSea, and Rarible? Check out this detailed comparison of Mintable vs Nifty Gateway vs OpenSea vs Rarible to clear your doubts.
Why Focus on Selling NFTs through Shopify?
While it is reasonable to assume that Shopify can be a suitable platform for selling NFTs, it is important to find out the reasons for focusing on NFTs in particular. Blockchain is a comparatively new technology and has transformed many aspects of the world, such as the economy and healthcare. NFTs or non-fungible tokens have the backing of blockchain for cataloging, purchasing, and selling digital collectibles such as music, games, video, art, and others.
So, NFTs are new types of digital assets that can help in trading on online marketplaces. Unlike fungible tokens, which can be exchanged on a one-for-one basis, NFTs have their own unique value. NFTs provide effective digital certification of authenticity, which can be associated with a piece of digital art or other assets. The demand for answers for ‘how to sell NFT on Shopify’ largely rests on the unique value offered by NFTs.
They can help in confirming the ownership of an item through documentation of details in a digital ledger, i.e., blockchain. The digital ledger is publicly available, and its storage on multiple containers throughout the world makes them immutable and secure. The demand for selling NFTs through ecommerce platforms has also gained momentum due to many striking highlights in the NFT world.
Only a few people would have the capabilities for proving ownership of NFTs. How? NFTs provide adequate flexibility in tracing the digital ownership of an object. So, NFTs are basically encouraging scarcity, although in an artificial nature, thereby enabling the sale of NFTs at higher prices.
The top examples of NFT use in the world clearly show the prospects for adoption of NFT Shopify storefronts. The $69 million NFT sales by 3D artist Beeple at an auction in March shattered all ambiguities regarding NFTs. The economic potential of NFTs started gaining recognition, with Kings of Leon becoming the first band in June 2021 to issue NFTs. In addition, renowned Star Trek actor William Shatner sold almost 90,000 virtual trading cards in the form of NFTs in 2020. The images of LeBron James dunking have raked in good money as NFTs, in the amount of $225,000.
Get familiar with the basic and advanced Non-Fungible Token (NFT) terms with the NFT flashcards!
So, it is quite clear that you can easily learn how to sell NFT on Shopify. You can easily set up an online storefront on Shopify with a few simple steps alongside ensuring advantages of customizability. The development of an NFT store on Shopify is presently one of the most trusted approaches for generating revenue through NFTs.
Interestingly, users don’t need any technical expertise for setting up their NFT storefront on Shopify. If you have NFTs, then you could easily go on Shopify and start your storefront. At the same time, it is also important to explore the possibilities of professional help in NFT development. Learn more about NFTs and discover new avenues for interweaving them with Shopify.
Enroll in our NFT Fundamentals Course to know more about NFTs and their applications.