The Emergence of Shopify NFTs for Online Retailers


May 9, 2023

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NFT-gated shops will be a new tool for firms wishing to make their stores more exclusive, according to an earlier this week announcement from e-commerce company Shopify.

The major online retailer sees NFTs as the future of e-commerce and is capitalizing on it by introducing NFT-gated storefronts, which let small firms build unique e-commerce shops. Invite your network "into a world that recognizes and rewards commitment," the announcer implores in the company's launch film for users and investors.

A skating woman passing through a pastel portal and changing into a Doodles NFT was also shown in the introduction video. The video claims that token owners can link a crypto wallet to access special shopping opportunities, including early access to product drops, limited collections, and one-of-a-kind experiences.

Only individuals with current NFT collections are eligible to apply for early access to Shopify's "gm" shop, which is now in beta. The disapproved ones can still use their Shopify stores to add an NFT token-gating software. By giving the owner of an NFT exclusive access to a community, content, or even tangible goods in addition to the digital token, token-gating can be seen as a way to increase the value of an NFT.

Before launching the token-gated stores, Shopify disclosed that it had to work with the Adam Bomb Squad, Doodles, World of Women, Invisible Friends, Superplastic, Stapleverse, and Cool Cats NFT collections.

The company is implementing "IRL" token-gating at brick-and-mortar shop points to enable the online token-gating so that only qualified NFT holders can make purchases at that physical location. It's interesting to note that Shopify has worked with NFTs before. Last year, the company made an announcement about the launch of NFT sales on its platform. Brands are permitted to create and sell NFTs to customers via Shopify on Ethereum, Solana, Polygon, or Flow.