Shopify adds Web3-type functionality to its ecommerce platform

by | Jun 22, 2022 | Technology

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Global ecommerce provider Shopify today made a major move into the future of online business by launching a set of app updates and additions that ostensibly will address the way business will be conducted in Web3.

Shopify, which for years has provided a relatively simple way for merchants to open their own online storefronts, is now providing a set of tools for users interested in creating new sites handling social network-oriented merchandising, local shopping in partnership with Google, DeFi (banking), an NFT (non-fungible token) marketplace, cryptocurrency, business-to-business marketing and sales, and other categories. In total, Shopify is adding more than 100 new features to its basic offering.

The company made the announcement under the auspices of a new semi-annual product showcase called Shopify Editions that will unveil new apps and features and improvements across the entire platform. 

“At Shopify, we believe in the infinite game,” Tobi Lütke, founder and CEO of Shopify, said in a media advisory. “That means we’re constantly pushing the boundaries of what’s possible for entrepreneurs. We work to solve the complex challenges merchants face today while imagining entirely new ways for them to grow their businesses. With Shopify Editions, we’re sharing our big bets and latest innovations in commerce so that those ambitious enough to try their hand at entrepreneurship can start and scale faster.”

The new offerings are designed to help merchants of all sizes navigate today’s challenges in running a business by opening up new revenue opportunities and building customer loyalty for the long haul. 

Some of the more important updates are as follows:

Tokengated commerce: This will be Shopify’s own take on building its own home base for NFT sales and marketing interaction. Shopify Tokengated commerce will use NFTs, which will – at least at the outset – be the creations of its users. Shopify didn’t say if it would provide tools for the creation of NFTs, but t …

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