Shopify is well aware of the buzz surrounding non-fungible tokens.
Buy them, sell them. Sounds commerce-y, right? Yes, but Shopify is looking to extract more dynamic value from the emerging blockchain technology.
The Ottawa-born e-commerce giant believes that “the most exciting experience isn’t selling NFTs—but activating them.” And it has rolled out a new feature to take advantage of this commerce-friendly mechanic.
The company calls its new feature of the Shopify platform “Tokengated Commerce.”
“Tokengated commerce offers a fundamentally new way to deepen connections and reward true fans and VIPs by giving NFT holders exclusive access to products, perks, and experiences,” Shopify explains.
Consumers become fans, in essence.
“All they need to do is connect their crypto wallets to a Shopify online store,” the Canadian company says, “and they can use their NFTs to unlock exciting experiences.”
Shopify says users will be able to activate tokengated commerce experiences online, mobile, and at physical retail through POS.
“Tokengated commerce can also be multiplayer,” Shopify added. “One brand can gate its storefront to a collaborating brand’s NFT holders, opening opportunities for brands to invite each other to a shared experience.”
This latest move continues Shopify’s history of being avant garde in its stance toward crypto.