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Many a high-end brand that is looking to work with capable London Shopify Plus experts such as our team at Skywire London might be interested in the latest key development shedding light on how they could tap into the potential of Web3.
As reported by Cointelegraph and elsewhere, the internationally renowned ecommerce platform Shopify has confirmed that it has partnered with Novel, a Web3 commerce platform, to help bolster the approachability and accessibility of Web3 technologies for merchants.
What are the implications of the new partnership for online store owners?
The new tie-up between the two platforms has already seen Novel launch an app on the Shopify App Store. This app enables Shopify merchants to begin immersing themselves in the innovation of Web3 technology – albeit crucially, without the need for them to possess any technical knowhow or even commit a great amount of time or money to the endeavour.
There are two main features made available by the Novel Shopify app, which will interest many of those joining forces with London Shopify Plus experts to help fuel their growth online: minting and distribution, and utility.
The idea behind the minting and distribution feature is to enable users to upload an existing collection of non-fungible tokens (NFTs), or to generate art for a new NFT collection. Novel is then able to deploy smart contracts over the collection and give users the option of purchasing them on the Shopify storefront.
Following the purchase of an NFT, Novel will automate the currency bridge and create a corresponding crypto wallet for the customers.
As for the utility side of the app, Novel gives merchants – including brands and creators – the ability to activate token-based utility on their Shopify storefronts. This encompasses the likes of token-gated products, URLs and discounts, and ERC-20 gating.
Novel co-founder and CEO, Roger Beaman, said of the partnership: “By integrating with Shopify, we’re able to leverage the industry-leading platform they have built to equip all Shopify merchants with the tools they need to enter the Web3 commerce space.”
A further advantage of the Novel Shopify app is that it allows retailers to add use cases to their NFT collections through token-gating.
Talk to our professionals about how we can support your high-end brand’s growth
Whatever your organisation’s present positioning may be in the lifestyle, luxury, or fashion space, our team at Skywire London would be delighted to help your brand make an even greater impact and achieve its long-term ambitions.
Enquire today to our London Shopify Plus experts via phone or email, so that we can discuss the advice and assistance we can provide in relation to the creative, strategic and marketing approaches that will be so important for fuelling your brand’s growth.
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