Although many people may have believed that crypto was a fad, the data shows that it is far from being a fad. The blockchain technology, which powers cryptocurrencies, has many uses.
This sector is a magnet for innovation.
One point of innovation is the NFT.
Non-fungible tokens are on the increase, and it is now common for nearly everyone to be aware of this phenomenon. The process is easy to turn any digital property into an NFT, and it can be sold for value. This has attracted attention from both digital creators as well as collectors.
NFTs were only available on niche, but still highly regulated NFT marketplaces that sold them mostly through cryptocurrency. To get into the NFT world, you would need to be more interested in digital collectibles and to know more about crypto and NFTs.
However, the popular ecommerce platform Shopify made it possible for users to sell NFTs via its simple storefronts in July 2021. With its ease-of-use, seamless payment options, and easy transactions, Shopify is a key player in the ecommerce sector.
This was why Shopfiy’s move was so significant. This move opened up a lot of opportunities for websites to sell NFTs and also allowed debit and credit card transactions for these tokens through a major provider.
Shopify was able increase its customer base, and to strengthen its customer relationships. This move will likely help Shopify to improve its ecosystem. It will allow it to interact indirectly with people who visit Binance, or who might buy products from Dapper labs.
Shopify makes it easy to sell NFT tokens if you’re a digital creator. You can read the following to learn how Shopify sells NFTs.
Shopify: How does it support NFTs?
Shopify websites come with integrated payment processing capabilities that allow users to sell products and services directly from their website. Shopify users can accept credit cards, debit cards, and other digital payments straight away, instead of searching for third-party integrations. Mobile payment options are also available on the platform. Shopify also allows you to add other payment methods, such as cryptocurrency, to your store.
Shopify also supports NFT sales through the same channel. Shopify users can easily convert their digital assets into NFTs and then list them on their website. Shopify allows potential buyers to pay their money, and then the NFT is obtained through blockchain technology.
This makes it easier to buy and sell NFTs using fiat currency or cryptocurrency. Customers don’t need to pay in cryptocurrency, so they can shop for NFTs online as well.
Shopify will now support legacy collections relating to NBA teams, iconic memes, and even world championship rings.
What Blockchains Does Shopify Support
Shopify currently supports two blockchain networks to create and transfer NFTs. These are Ethereum and Flow. Users can easily create NFTs on any of these platforms, and then list them on Shopify.
Shopify plans on adding more blockchain networks to its support platform list in the future. Shopify currently only allows you to sell NFTs through these two platforms.
It is important to note that Shopify does NOT host NFTs. The seller is responsible for the fulfillment and storage of purchased solutions, just like with consumer goods or digital services. This is an important aspect to remember when learning how you can sell NFTs on Shopify.
You will need to make sure that you account for every aspect of your transaction, whether it is on an online store or general NFT platform.
Shopify accepts which payment methods for NFTs
Shopify can accept a variety payment methods for NFTs. It can accept payments in 133 fiat currencies as well as over 300 cryptocurrencies like Bitcoin, Ethereum, and Litecoin through a variety of options.
Shopify offers a variety of fiat currencies, including the following payment options:
- American Express
- Apple Pay
- Google Pay
- Shop and Pay
Shopify offers the following payment options for cryptocurrency payments:
- Coinbase Commerce
This gives you access to all cryptocurrencies supported by these payment providers. This allows you to sell your NFTs using cryptocurrency as well as fiat currency.
How do you sell NFTs on Shopify
You now have a good understanding of how Shopify sells NFT, and you will be able to understand how you can market your digital assets on the platform.
This information will help you to understand the steps required to sell your NFTs.
Register for a Shopify account
Create a Shopify account before you can start selling NFTs. It is simple and straightforward.
- Check out the pricing plans.
- Please fill in the required details.
- Make the payment.
- Register for an account
Create a website
An account on Shopify is not enough to allow you to sell your NFT. A fully-fledged website is required to be hosted on Shopify.
You can transfer a website you already own to Shopify’s hosting. You can also create a new website and manage it through Shopify.
Shopify gives you access to a variety of templates and a content management platform (CMS), making it simple to create modern, engaging websites. Even if you’re just starting to sell NFTs through Shopify, this simplifies the whole process.
Shopify makes it so simple that you can create your first product and go through the CMS as soon as you sign up. This process can be used if you already have your NFT.
Select Your Payment Processor
Shopify is unique because it supports both its own payment processing services and third-party providers. To create an eCommerce platform, you can use any one of these services when creating your website.
Here you can search for cryptocurrency payment processors, and then add them to your store’s integrated services. You will need to setup additional payment details. It is worthwhile as you will be serving blockchain-savvy users who may prefer to pay with cryptocurrencies.
After you have selected your payment processors, it is possible to quickly review your website to make sure that the theme, content and interface are to your liking. Next, you can set up your NFT and add the listing to your site.
Make Your NFT
The tricky part is creating an NFT. Shopify claims that it supports NFTs on Ethereum and Flow but the platform doesn’t take responsibility for supporting delivery of these digital assets. This is an important fact to keep in mind when learning how you can sell NFTs on Shopify.
You are responsible for creating, storing and transferring the NFT to the purchaser. It is very similar to selling products on Shopify. While Shopify allows you to make payments, the platform doesn’t store or ship your goods.
Importantly, Shopify’s help page does not contain any information on NFTs at the time this article was written. The majority of information regarding the NFT selling feature is obtained from third-party, but valid press. This information was first applied in the real world when the NBA’s Chicago Bulls sold NFTs for their championship rings through Shopify.
Shopify staff mentioned that the platform permits the sale of NFTs provided that they adhere to its Acceptable Use Policy. According to the platform’s previous stance regarding NFTs via Ethereum and Flow you can create NFTs and then sell them on these platforms without any problems. This is an important point to remember when navigating how you can sell NFTs at Shopify.
This is very similar to selling digital products through Shopify apps like SendOwl. This is because the delivery of digital goods, or NFTs, takes place via blockchain rather than conventional interfaces.
Set a price
It is important to note that NFT does not allow you to set the price for digital art, music, stories or any other content. This is the same as selling tangible art. The creator can set the price at any level they wish; it is completely up to user demand.
It is crucial that you decide the value of your NFT and compare it with similar creations. This will ensure that your NFT is not priced too high or low. This increases your chance of selling a serious product.
This strategy is important regardless of whether you’re selling one NFT or building a NFT store that includes multiple pieces. To appeal to different audiences, you may assign different values to NFTs. This will allow you to make your most valuable content stand out.
Get your marketing set up
It doesn’t matter if you decide to reach out to social media influencers, or place ads for digital content. You need to develop a marketing plan to market your store. You could lose your audience and your store will fail before it can spread its wings.
Different marketing strategies, such as SEO (search engine optimization) or social media marketing, can be invested in. You can place your ads as long as the NFTs you offer are in line with these networks’ policies.
It is important to remember that not all mainstream service providers will allow the use of NFTs. You can also market your NFTs via alternative platforms like Bitcointalk. This allows you to reach people who don’t mind using digital currency for their transactions.
For a more detailed approach to developing and managing your new venture, take a look at these tips to create your Shopify store.
These are some tips to help you convert your digital assets into NFTs, and then sell them through Shopify. You can pay according to the terms and methods listed above.
Is it possible to hire someone to create an NFT store?
Although these steps are easy to follow, it is possible that you don’t have the technical skills or time to do them all yourself. Third-party developers can create your store even if you don’t want or feel the need to go through it.
This team is skilled in creating Shopify stores. You can create your store without needing to use the CMS. This approach saves you time and allows you to create a fully functional website in a very short time.
The CMS option allows you to add new pages or products as often as you like. Shopify is very user-friendly. This means that you won’t need to go to a developer each time you add a new NFT. This is because, once you have the basics of your website set up, it’s as easy as posting something to social media. This is an important thing to remember when learning how to sell NFTs via Shopify.
There are many factors that affect the cost of hiring these developers. These factors include, but are not limited, to their experience, skill level, and vendor profile. These professionals can be found on platforms like Fiverr and Upwork. You can view valid reviews for multiple vendors at once.
These developers might also be able to convert your digital artwork into a NFT. This solution can be very beneficial for you. Look for vendors who are experts in both Shopify as well as blockchain. This provides a great deal of comfort.
Take the time to research the costs of these developers so you can calculate your startup costs for NFT. You might consider investing some of your own money in creating your website if the price is prohibitive for your budget.
Important Points to Keep in Mind When Creating Your NFT
As of the writing, little information is available about NFTs in the Shopify support materials. The only official statements made by top management came from third-party news websites, as mentioned above. Shopify employees have not provided any definitive answers to questions about supported NFT and blockchain platforms in their few statements.
Shopify is constantly changing its rules regarding NFT. It is important to reach out and review the most current policies for supported blockchain networks with the customer service team. For NFT creation, Ethereum and Flow are currently supported networks. This could change, but it is not likely to be. This distinction is important as you learn how Shopify sells NFTs.
Once you have clarified the situation, you can create your NFT via the platform. You can transfer copyright at the time you create the NFT. This allows you to choose whether the sale is a one-off or if the content can be reproduced multiple times. These terms should be clearly explained to potential buyers before you sell the NFT so that there are no disputes later.
What happens when someone purchases my NFT?
Your goal is to sell your NFTs. It is therefore a moment to celebrate when your first NFT sale occurs. It not only validates that your solution generates income, but it also gives you the opportunity to expand your store.
Selling your first NFT comes with a lot of responsibility. This is the moment you need to fulfill your first fulfillment via blockchain and demonstrate your customers that your services are reliable and speedy.
It is very simple. Once you have received payment and buyer’s address, you can visit the respective blockchain platform to send the NFT to customer’s wallet address.
You may have defined terms on the product page and the checkout page. Make sure that your NFT transfer follows those promises. Your NFT attributes should clearly indicate that you have given up any rights to the content, for example, after a sale.
It is easy to transfer the NFT from Shopify to the buyer if all details are correct. You can send the buyer a link to digital content that comes as a separate download if they have requested it. This applies to any buyer certificate which outlines the rights of the buyer over the work.
Your NFT is now sold on Shopify. Many NFTs can only be sold if they are uniquely associated with a single digital object or physical object. This process will typically allow you to bid goodbye to the content that you have sold. You may then be able to move on to other products in your Shopify store.
Look at Other Platforms
Shopify is a great solution to marketing and selling your NFTs. This status is largely due to the brand’s recognition and its acceptance of fiat currencies through debit cards or credit cards.
You can also look at alternative platforms to sell NFTs if you don’t mind receiving fiat currency payments.
These are some of the most well-known NFT selling platforms.
OpenSea, Rarible and other platforms accept credit cards for cryptocurrency sales. The seller will be paid with cryptocurrency. These platforms might allow you to accept fiat payments. This could change in the future. This cryptocurrency-only payment is the standard for sellers.
Keep this in mind as you explore your options and make an educated decision about the platform that will be your home for your NFTs.
Although Shopify’s NFT program remains in its infancy stage, it is easy to create an NFT store through the platform. Despite this, Shopify’s NFT program is quite simple. Take your time designing your website and be aware of any potential issues.
These tips will help you sell your NFTs on Shopify quickly. These tips will help you to adopt a modern approach to online sales and make it easier than your peers.
Reach out to professionals in web development and blockchain if you have any questions. This support will make it easier for you to use your NFT venture.