The advent of the Web3 era has spawned a revolution in several industries, including e-commerce. After enabling the sale and creation of NFTs on its platform, Shopify announces the launch of other tools including tokegating to enhance the experience of Web3-centric merchants. These tools specifically allow Shopify NFT merchants to control access to exclusive products.
Shopify launches tokegating tools to improve the experience for NFT merchants
A month ago, Shopify got an extension that enabled NFT sales on its platform. Thanks to tech startup Venly, millions of merchants now have the ability to sell minted digital art on Avalanche.
On Thursday, February 9, the developer of Shopify’s blockchain team announced the launch of new tools for merchants. These allow for the creation of tokenization applications. This initiative aims to improve the user experience for NFT merchants.
Expanded crypto wallet login features and “tokegating” application programming interface (API) tools are the key elements of these newly launched tools.
Since June 2022, tokegating had been in beta and only available to a small number of merchants.
Tokegating tools allow NFT merchants to control access to exclusive products
Since the advent of NFT, the art and e-commerce world has undergone a significant transformation. Online merchants looking to customize their products can now use Shopify’s tokegating tools.
In addition, they can restrict access to an exclusive product to a certain category of customers. However, merchants can reward their loyal customers with exclusive benefits, such as discounts or free products.
Sellers can create a Tokegate store directly on the Shopify app or add the functionality in-store. Shoppers then need to connect their crypto wallets and verify that they have the necessary NFTs to purchase closed goods or access exclusive events. The feature thus serves as a bridge between NFT communities and consumer brands on the platform.
Shopify has integrated with Ethereum Connection Protocol (SIWE) to extend support for crypto wallets. SIWE enables secure user login and authentication of Ethereum accounts and ENS domains without giving private credentials to third parties.
Shopify’s tokegating tools offer greater transparency and security, building customer trust in the purchasing process. Vendors can partner with other brands and create custom NFTs on popular blockchains like Ethereum, Polygon, Solana, etc. Then they can list and sell them directly from their store. These tools could shape the future of e-commerce, so it’s worth keeping an eye on their development.
Coming from a journalism university background, I came across Bitcoin and cryptocurrencies not long ago.
The potential of the Blockchain seduced me and I made it my research topic.