As part of a new series of consumer connection initiatives developed this year, Shopify will allow merchants to connect with fans and drive sales by creating exclusive products for token holders. The initiative, dubbed “tokengate”, is available in early access beta mode.
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Build even stronger communities around your brand and reward your people with exclusive shopping opportunities. Think limited edition drop-downs, discounts, and more (oh hey! @scribble). pic.twitter.com/gyq5iu2GRH
— Shopify (@Shopify) June 22, 2022
To get started, merchants can create a tokengate store right in the Shopify app, or add the feature right in the store. Buyers will then need to connect their crypto wallet and verify they hold the applicable non-fungible tokens or NFTs in order to purchase restricted items or access exclusive events. This feature serves as a gateway between NFT communities and consumer brands on the platform.
In addition, vendors can partner with other brands for upcoming NFT releases and team up with Shopify merchant partners to develop premium products. In addition, providers can create their own NFTs on popular blockchains such as Ethereum, Polygon, Solana, and Flow. After that, they can list and sell them directly from their store.
The beta is open by invitation only to select sellers with the NFT collection. Neither the seller nor the buyer need to pay with cryptocurrencies to buy NFTs. Payment gateways include Shopify Payments, Shop Pay, various cryptocurrency payment gateways, and credit or debit cards. Buyers can request their NFTs via email and add them directly to their wallets.
Doodles co-founder Evan Kist, whose NFTs project has joined the initiative, commented:
“As an ambitious community-driven project, we have a strong focus on setting the standard for a unique NFT collecting experience. By collaborating with Shopify on token products, we surprised our holders and gave a whole new meaning to owning a doodle. “
Credit : cointelegraph.com