Can you sell NFTs on Shopify?
Our e-commerce platform of choice has always been Shopify. We have used them since the beginning of eCommerce. There's a sense that Shopify is trying to stay on top of the latest e-commerce trends by adding new functionality regularly. As a matter of fact, Shopify just added support for NFTs last year.
NFTs, or "non-fungible tokens," are different from standard cryptocurrencies like Bitcoin and Ether. They can't be bought or sold like other cryptocurrencies like Bitcoin and Ether. Most of the time, these tokens can only be used at a specific site or in a specific game. These NFTs, like baseball cards and trading cards, have an inherent rarity that makes them popular with people who like games and art.
There is no doubt that cryptocurrencies and NFTs will be around for a long time. More and more people are using them to pay for things and trade digital assets.
Not sure what NFT is? All you need to know right now is that Non-Fungible Tokens are, in essence, a set of blockchain assets that share definite properties. In short, it means that every NFT asset is unique and not interchangeable with another. Since they are digitally native, they are easily recognizable, trackable, and cannot be copied.
People are gradually becoming used to the concept that they may own virtual property thanks to the emergence of cryptocurrencies and blockchain technology. Exactly how far this trend will go remains to be seen, but one thing is certain: NFTs will significantly impact how we think about ownership in the future.
Selling NFTs on Shopify
The concept of non-fungible tokens (NFTs) has been around for a while, but it’s only recently become an accessible and popular concept. NFTs are a digital asset that represents something unique and cannot be replaced by another token.
NFTs have been around for a few years now, but popularity has grown exponentially in the last year.
Non-fungible tokens can be used to create unique collectibles in the form of cards, art, or any other collectible item.
So, can you sell NFTs on Shopify? Yes, you can! BUT, to sell NFTs, you must be a Shopify Plus merchant with a store in the United States. For this, you’ll have to apply to join the Shopify NFT Beta Program. Right now, only Shopify Plus merchants in the United States can participate in the NFT Beta Program. You could be a brand, an artist, or a creative, as long as you are a Shopify Merchant who is approved to sell NFTs, you are good to go.
If your store isn't on Shopify Plus, keep an eye on this page for changes as Shopify's NFT Beta Program grows and changes with NFT technology.
Why should you sell NFTs on Shopify?
Shopify simplifies the world of cryptocurrency. Using Shopify's partner apps, you can mint and list your NFTs on prominent blockchains. Then list and sell as you please—you and your buyers wouldn't even need cryptocurrency.
Payments can be accepted using Shopify Payments, Shop Pay, crypto payment gateways, credit/debit cards, etc. Customers can also effortlessly claim their NFTs by email and add them to their wallets.
Minting is when you create an NFT. When a new form of currency (NFT) is created, it is assigned a unique identifier and entered into a public ledger (blockchain). Ethereum, Polygon, Near, and Flow are some of the most common blockchains for making NFTs.
Which blockchains are supported?
Shopify currently supports the following blockchains:
To avoid any confusion, it is important to clarify that Shopify does not host NFTs. Similar to consumer goods and digital services, the storage and fulfillment of purchased solutions falls on the shoulders of the seller. This is an important point to consider when considering selling NFTs on Shopify.
What costs, if any, are associated with selling NFTs through the beta program?
Shopify charges the same fees for non-fungible tokens (NFTs) as they do for other products. Basically, the Shopify Plus plan fee stays the same, including credit card processing fees through Shopify Payments. While Shopify does not charge extra for minted NFTs, the apps that mint them do.
Steps to Selling NFTs on Shopify
- The first thing to do is to sign up for a Shopify Plus account.
To be able to participate in Shopify’s NFT program, you first need to have a Shopify Plus account. Keep in mind that this costs $2,000 per month not including transaction charges and other fees.
Now, it may be possible to sell NFTs on Shopify without a Shopify Plus account but you will be very limited in terms of tools and features which can render your efforts useless.
- Develop your Shopify website.
If you haven't started developing or designing your website just yet, Shopify makes this easy to execute, even if you’re starting from scratch. There are many options available on the Shopify store when it comes to themes. Alternatively, if you already have a website, you may simply migrate it to Shopify's servers (if you don't know how to do this and need our help, do contact us!)
Before developing it, make sure to think about every aspect of your site's design and the customer journey. This entails making the entire shopping process as seamless as possible, just like you would with a standard eCommerce business, but on a higher level. This is one advantage of doing it on Shopify; when you have your own site, you can design it in a way that is more appealing to customers.
In order to make it even easier for customers to locate your NFTs, you might also want to consider SEO (search engine optimization).
- Choose Your Payment Methods
Earlier we established that with Shopify, you get to choose which payment methods to include on your website. So you can continue on with bitcoins, or you can enable credit or debit card transactions.
Regardless of the payment methods you choose, having Ethereum on hand is highly recommended as most NFT shoppers already use Ether. Making it a part of the monetary system will be beneficial.
Optional payment methods, such as Apple Pay and Google Pay, are also worth considering.
- Mint your NFTs
Once you have your backend set up, you can start making NFTs. Be sure you are familiar with Shopify's policy on NFTs which is basically that you can't make or host NFTs on the platform. Rather, you're using apps to mint them.
Meaning, Shopify acts as a storefront for your business. Storage and distribution of NFTs are not a part of their service and responsibilities. So when you sell NFTs, you'd have to figure out how to get them to your customers.
- Launch your NFT.
The next step is to put your NFT up for auction.
Our advice to get the most out of your Shopify store is to offer more than a payment method. People who might buy from you should be able to do so in an easy way for them.
In order to help people who pay with Ether or other cryptocurrencies, you can also display the current exchange rate. Shopify works with a lot of different cryptocurrency payment processors, like Coinbase and BitPay so this should take off that load for you.
And there you have it! Afterward, just ask the buyers for their information so that you can move the NFTs they bought to them. After receiving payment and the buyer's blockchain address, you can go to the corresponding blockchain platform and send NFT to the customer's wallet address.
Note that if you are in the Shopify NFT program, it uses third-party NFT minting and delivery apps to help you create and send your NFTs, while Shopify Payments processes the transactions. After adding an NFT to their cart and checking out, your customer will receive an email with instructions on how to claim their NFT.
Make sure that your NFT transfer is done in accordance with the terms mentioned on the product and checkout pages. For example, if you want to waive content rights after the sale, your NFT attributes should reflect that.
A successful sale of NFTs on Shopify requires that all details are transparent and available. If your digital item is downloadable, you can also just email them a link. This also applies to any buyer certificate that states their rights over the work in addition to the NFT itself.
Can I just hire someone to make an NFT Shopify Storefront for me?
While opening and setting up a Shopify store is easy, you may not have the technical expertise or time to do so. Or maybe you just don’t want to. This is where third-party developers come in.
Developers like the ones we have here at Webinopoly are experts in creating Shopify stores who can help you start from scratch without having to learn the CMS. This strategy saves you time while still providing you with a fully working website on a strict timeline.
The CMS option may then be used to continue adding new products or pages as needed. Because Shopify is so user-friendly, you won't need to hire a developer every time you add a new NFT. Since you already have your website set up, this step appears as simple as publishing anything on social media.
The price of hiring third-party developers varies depending on their experience, skill, specialty, and vendor profile.
That being stated, be sure to research developers' fees and see how they fit into your NFT starting expenses. If the price is out of your reach, you could be better off putting in some time and effort yourself to build your website.
Develop Your Shopify Site with Webinopoly.
One of the keys to a successful eCommerce business is an optimized, functional, and fully responsive website. Once you’re ready to take your business to the next level, we’re here to help.
With over 400 clients served, Webinopoly is a leading web development agency with an experienced team of designers, developers, and marketers. Webinopoly combines a deep understanding of the eCommerce industry and its latest trends with proven success in building attractive and successful online stores. The agency specializes in designing custom themes for BigCommerce and Shopify, as well as website development, marketing, and SEO.
If you’d like to learn more about what we can do or view our portfolio, please click on the links below: