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Shopify allows merchants to mint and sell non-fungible NFT tokens on its platform…Details here

Shopify allows merchants to mint and sell non-fungible NFT tokens on its platform…Details here

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Answer Shopify allows merchants to mint and sell non-fungible NFT tokens on its platform…Details here

Shopify is one of the leading companies in the field of e-commerce.

Shopify recently allowed its users to mint and trade NFT tokens on its platform.

To provide this opportunity and possibility, the company has partnered with “GigLabs,” a company that specializes in providing tools for working with NFT.

Shopify enters the world of NFT:

Tobias Lutke, CEO of Shopify, revealed the new service through his Twitter account.

The initiative will come under the name “NFT Beta program”.

Initially, the new features will only be available to US-based merchants.

According to the statement, the collaboration with “GigLabs” allowed NFT enthusiasts to purchase digital tokens through various settlement methods, including Shopify payments, “Shop Pay,” cryptocurrency, credit or debit cards.

Read:Exploiting the Web 3 infrastructure platform “Ankr” and stealing digital currencies worth millions!

Shopify’s statement reads:

Customers can easily claim NFTs via email and add them directly to their wallets.

The company explained that customers are able to mint non-fungible tokens on various platforms such as Ethereum, Polygon, Near, and Flow by collaborating with its partner apps.

Paul Bodnitz, founder and CEO of the entertainment company Superplastic, described:

The Shopify platform is amazing.

My company and partner “Kristi” have helped create a massively successful NFT for Janky and Guggimon.

What Shopify announced is its first step in the NFT space, and confirms the company’s continuity in the crypto and blockchain field.

Rise of the NFT Industry in 2021:

Irreplaceable digital tokens are unique digital tokens that exist on the blockchain and cannot be exchanged.

These symbols can represent artwork and even track real-world assets, such as a home or a car.

Although NFT was invented in years past, it has managed to attract the attention of people and companies from all kinds of industries from athletes and musicians to investors and politicians this year in a big way.

Read:Western Union reconsiders Ripple technology after MoneyGram and Ripple deal

Not long ago, OpenSea crossed the $10 billion mark in terms of trading volume.

Currently, this figure is over $13 billion with more than 1.2 million traders visiting the platform.

The reader should consider the success of OpenSea a huge success given that the total trading volume for the whole of 2020 was only $21 million.

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