Shopify unveils new Web3 experience for merchants


TL;DR Breakdown

  • Shopify unveils new Web3 experience for merchants
  • The e-commerce platform teams up with Novel to provide a Web3 app
  • Web3 ecosystem is the new goldmine

Shopify has announced that it will bring merchants closer to the Web3 experience via its partnership with Novel. The e-commerce platform mentioned that it plans to make the ecosystem accessible for merchants across the globe. The Novel is a commerce platform that thrives using its Web3 technology. The statement says that Novel will launch an app that will provide merchants with the essential features that will immerse them in the Web3 experience.

Shopify teams up with Novel to provide a Web3 app

Shopify mentioned that merchants onboarded on the Web3 platform do not need any background technical knowledge or other commitments to access it. The first primary usage of the application is for minting and distribution, while the other will be utilized. The first usage will allow users to create a new NFT art from scratch or upload one to the platform.

The Novel will also be able to create smart contracts across the platform, making it easy for users to make purchases on the new app. If a user purchases an NFT, Novel oversees every other detail, including currency bridge and making wallets where the NFT will be deposited. In utility usage, the merchants on the platform will be allowed to enable utility across tokens in their store on the app.

Web3 ecosystem is the new goldmine

Breaking the news to the public, Novel boss Roger Beaman noted that their partnership with Shopify will enable them to infuse Web3 capabilities into the already-built ecosystem. This way, they provide the basic needs for merchants interested in entering the Web3 ecosystem. One of the tools of the new app is to enable merchants to add use cases to their collections on the platform through the token gating feature. This feature will enable merchants to use many of the advantages of the platforms to their benefit. They include gateways across several chains like Ethereum, Solana, and the like.

Companies are now moving into the Web3 ecosystem over the last few years. This is because most traders are embracing new technologies, and firms are seeing ways to help them bring in profits. Recent news noted that food companies are now entering the Web3 ecosystem. Attorney Mike Kondoudis bolstered this about several food companies, including Del Monte, which had filed 8 trademarks in the sector, Kraft with 12 trademarks, and In-and-Out with one trademark.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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