Shopify NFT: The Complete Guide For Your Shopify Store 👀
With the NFT market currently valued at over 7 billion dollars and doubling in market size every single year, it’s no surprise that more and more people are looking to get into it.
Luxury NFTs could become a $56 billion market by 2030.
While the NFT market is becoming bigger and bigger each and every day, there are also several NFT marketplaces to meet the need.
Is the world’s one of the biggest eCommerce platforms Shopify one of these?
Table of contents:
- Can You Sell NFTs On Your Shopify Store?
- How Can You Create Your NFT Store on Shopify?
- Shopify and Chicago Bulls NFT Launch
- Which Blockchains Does Shopify Support?
- What Are Shopify’s Advantages While Selling NFT?
- Shopify NFT Marketing
- NFT Statistics You Must Know Before Stepping Into 2022
Can You Sell NFTs On Your Shopify Store?
The whole world of Non-Fungible Tokens (NFTs) are definitely a puzzle to be solved.
Maybe you’re looking at Shopify as your platform of choice to mint and sell your NFTs but don’t know where to start.
Shopify is a fantastic way to sell and showcase your Non-fungible Tokens and collectibles.
They announced that you can now mint and sell NFTs from your Shopify store with the NFT Beta Program.
How Can You Create Your NFT Store on Shopify?
Creating your own non-fungible token store on Shopify is a big undertaking. If you’re looking to build your own NFT shop, then you’re in the right place.
Come with me as we walk through the process of building an NFT shop on Shopify!
The process of creating a non-fungible token (NFT) is called minting.
When you mint an NFT, it is registered on blockchain and usually these blockchains are Ethereum, Polygon or Flow.
Before Shopify entered the ecosystem, there were several BFT marketplaces such as Opensea, Rarible, or Nifty.
Now, you can use Shopify as your marketing channel to mint and sell your NFTs.
Now, you can utilize Shopify’s Plus plan to market your NFTs if your store is based in the US and you are on the Shopify Plus plan.
All you need to do is to apply to join the NFT Beta Program.
This program ensures that your customers can use CC or cryptocurrency to make a payment.
Harley Finkelstein, Shopify’s President summarizes it for you;
With the Shopify Payments, you will process credit card payments or you can use Shopify’s Cryptocurrency Payment Providers;
- Coinbase Commerce
All you need to do is to apply to the NFT Beta Program with a form that look like this:
What if you are not in the United States?
If your store is outside the U.S., and you are on the Shopify Plus plan, you can still apply but you need to connect your payment provider on your own.
So the difference between the NFT Beta and the NFT Program is the ability to use Shopify Payments.
Shopify and Chicago Bulls NFT Launch
In July 2021, the Chicago Bulls launched a new form of merchandise: NBA Championship Rings as Non-Fungible Tokens (NFTs) on the Ethereum blockchain.
Instead of wearing physical rings, the digital NFTs were displayed alongside team-themed artwork on Shopify’s e-commerce website.
Collectors could easily go and shop on Shopify’s marketplace with their credit cards rather than using another NFT marketplace.
The collection was sold out in less than 3 minutes, the reason behind it explained by the Shopify VP; they stated that people using Shopify already do not want to switch to another purchase experience other than they already use.
Which Blockchains Does Shopify Support?
Shopify currently supports two blockchain networks, Ethereum and Flow, for creating and transferring NFTs.
You can create your NFTs on Ethereum or Flow blockchain and list them on your Shopify site this way.
Shopify is planning to add more networks in the following months.
What Are Shopify’s Advantages While Selling NFT?
There are 2,3 million active websites using Shopify in 2021.
Shopify is a great marketplace for lots of ecommerce owners and entrepreneurs.
You don’t need to use another platform if you want to sell your NFTs from now on.
You can accept payments via Shopify Payments, CC or debit cards, and more.
Shopify Payments is one of the most trusted payment gateways for ecommerce business to set up invoicing and accept payments on the web.
Plus, there are other payment options that enable you to have a variety of payment options.
Shopify enables you to set up an online store in a matter of minutes.
There is no need to have any technical knowledge — just a passion to launch your business.
Shopify NFT Marketing
Creating a Shopify nft marketing plan for your store is crucial if you want it to reach a wide audience.
Whether you are marketing NFTs or other products or services, without a marketing plan, chances are your store will flop in the social media sea with very few of your followers checking out your site.
This affects conversions and ultimately overall sales.
When you create a powerful marketing system beforehand you are going to increase your conversion rates and ultimately the amount of money you make from your online business.
You can promote your Shopify NFTs in a number of ways.
One of the most promising ways is social media marketing (SMM).
Social media networks are abundant and they can offer a significant reach.
Below we’ve outlined the most important social networks, the ones you should consider promoting your NFTs on;
If you are familiar with the NFT world, you would know there is not one NFT project that doesn’t exist on Twitter.
You can easily promote your NFT on Twitter.
Share your story, your roadmap, your project details and everything you want to point out about your collection.
Discord was really popular among game players back then but now NFT communities use this chat platform 24/7.
You can dive into the Discord servers, promote your NFT- without spamming-, create your own server and spread the word.
NFT Statistics You Must Know Before Stepping Into 2022
- Per Shopify, the NFT market grew 700% in just one quarter in 2021.
- Pak Sold 266,445 Shares of an NFT “The Merge” for $91.8 Million on Nifty Gateway.
- 4 Million people in the U.S alone purchased or sold an NFT.
- Today, there are dozens of businesses including NFTs on their businesses like Adidas, Nike, Coca Cola and many more.
- About 50% of physical collectors said they’re interested in trying NFTs.
- As of December 15, 2021, the aggregated sales value over 30 days amounted to roughly 147million U.S. dollars.
If you’re on our blog, then you’re probably interested in jumping on the Non-Fungible Token (NFT) bandwagon.
It’s understandable, NFT’s are taking over and if you can figure out a way to tap into them, it could be a gold mine for your company.
Shopify gives anyone the tools to start selling digital items right away; all that is needed is something to sell!
Hopefully, by now you’re convinced that Shopify is one of the best platforms for selling digital NFTs.
But don’t just take my word for it; try it out and see if your own experiences confirm what I’ve told you here.