How to sell NFTs on Shopify
Sell NFTs directly from your Shopify storefront
There's been a lot of buzz surrounding NFTs in the last year. While many think they're a hype, major fashion brands such as Daily Paper and Gucci welcome blockchain — bridging the world between physical and digital fashion. It's no surprise. According to Shopify, in Q3 of 2021 alone, NFT sales rose to $10 billion. The market value of NFTs continues to rise and is expected to reach a whopping $56 billion by 2030.
What are NFTs?
NFTs stand for non-fungible tokens; they're digital assets ranging from photography, music, audio, video, etc. They're sold and bought online via cryptocurrencies, mostly through Ethereum, also known as Ether or ETH. Virtually any digital asset can be converted into an NFT and tokenized. You'll receive a digital certificate of ownership, which can be tracked and verified because each NFT is unique to its owner.
Why should you consider selling NFTs?
NFTs encourage your customer base to buy into a community you’re creating around your brand. After all, building communities is an essential part of taking your business to the next level. However, selling NFTs shifts that relationship from spectator to co-creator, enabling your devoted customers to drive awareness and value to your brand. Not to mention, many fashion labels have undergone a digital makeover after the onset of the pandemic. More and more consumers are moving to avatars and 3D representations of themselves. There lies the opportunity for brands to bring the physical and digital space to life while creating a community that aligns with their brand and core values.
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