Can I sell NFTs in Shopify?
The answer is yes. However:
Selling NFTs can be confusing — especially for those who aren’t well-versed in cryptocurrency, the underlying technology behind it. Besides, how do you even begin to sell NFTs? And where are you supposed to do so?
Well, the good news is that the whole process isn’t as complicated as you might think.
And as far as where you’re supposed to sell them — there are tons of marketplaces earmarked toward NFT buyers and sellers. You can even sell them through Shopify now.
In this post, we’re showing you how you can set up an NFT store using Shopify.
What are NFTs?
We’ll talk about Shopify and NFTs soon enough. But first, let’s talk about NFT and its relationship with cryptocurrency.
NFTs stand for non-fungible tokens. These are digital files that are sold online such as artworks, music, and photos. Each NFT is unique. Even if a creator sells multiple copies of the same artwork, your NFT will still be uniquely yours because it will contain metadata information that can’t be altered.
For that reason, NFT buyers treat their purchases as digital collectibles with most hoping that they go up in value as time goes on.
NFTs and Cryptocurrency
NFTs are part of a cryptocurrency. Most NFTs are made through Ethereum but there are other blockchains that will let you “mint” them. “Minting” is a term used in the NFT space that refers to converting a digital file into NFTs.
Selling NFTs
Before we talk about what Shopify has to offer, we have to talk about how creators would normally publish and sell NFTs. This will help you understand what makes Shopify’s offering different from how NFTs are bought and sold today.
To start, a creator will need access to a couple of things:
- NFT Platform — You will need to sign up to an NFT platform where you can mint and sell NFTs. Popular options include OpenSea, Rarible, and SuperRare.
- Digital Wallet — You’ll have to pay upfront costs if you want to put up an NFT for sale. That’s why you’ll be required to enter your digital wallet information before you can sell an NFT. You can create a wallet through Coinbase or MetaMask though there are other digital wallet platforms out there.
- Ethereum — You’ll likely be asked to pay in Ethereum otherwise referred to as Ether (ETH). So make sure you have some in your wallet. Do note that the price of Ether fluctuates as with other cryptocurrencies. So try your best to buy at the right time.
If you have all three ready, then it’s all just a matter of connecting your digital wallet to your NFT platform, uploading the file you want to be minted, and setting up an NFT auction.
But wait:
If it’s that easy, then why do people need to use something like Shopify?
Shopify and NFTs
Having an online store powered by Shopify will give you a couple of advantages.
First, you’ll no longer be bound to one specific NFT platform. Having your own site will give you the freedom to market your NFTs as you see fit.
On an NFT platform, you’ll also have to contend with other NFT creators. That’s not the case when you have an eCommerce site.
Also, Shopify is a well-established eCommerce platform. It has all the tools you’ll need to sell products and services. And there are a lot of resources available that can help walk you through setting up a store. You’ll have no trouble launching an NFT store.
You’re also able to set up the customer experience the way you want to — from storefront to checkout.
But one of the biggest benefits to using Shopify is all the different ways you can sell NFTs. Users can still buy NFTs using cryptocurrency. But they can also do so using credit and debit cards along with other payment options.
It’s simplifying the way NFTs are minted and sold.
Minting NFTs Using Shopify
Just to be clear — Shopify itself doesn’t mint NFTs.
You’ll still need to mint an NFT through blockchain. But what makes Shopify a great choice for NFTs is that it partnered with third-party apps that mint and list your digital assets on blockchains.
And when customers buy NFTs through Shopify, they’ll be able to claim their NFTs through email then add them directly to their wallets.
Can Anyone Sell NFTs on Shopify?
Unfortunately, Shopify’s NFT Program is only open for US-based sellers on Shopify Plus as it’s still in beta. But if you qualify, then you shouldn’t have any problem joining the program. Any brand, artist, or creator can sell NFTs through the platform.
Does Shopify’s NFT Program Work?
Yes, it does. The NBA’s Chicago Bulls launched a Shopify store where it sold its first-ever NFT drop.
Was it successful? Well, the Bulls managed to sell out of NFTs in just 90 seconds. That’s undoubtedly a success no matter how you look at it.
What made this particular NFT drop so great is that users were able to buy NFTs using their credit cards. That means anyone—even if they had no knowledge of cryptocurrency— could get in on the action.
And with all the hype surrounding NFTs, you can argue that the Chicago Bull collection was bound to sell out.
How to Sell NFTs on Shopify
Now that we have all of that out of the way, let’s dive into Shopify and talk about how you can sell NFTs there.
Step 1: Sign Up for a Shopify Plus Account
The first step is to sign up for a Shopify account. To participate in the Shopify NFT Program, you’ll have to be a Shopify Plus account holder.
The bad news is that a Shopify Plus account is quite the commitment at $2,000 per month.
You can still sell NFTs on Shopify even if you don’t have a Shopify Plus account. But you won’t have access to some NFT tools and features which makes it a little less convenient.
Step 2: Develop Your E-Commerce Site
Shopify is an e-commerce platform and not an NFT marketplace. That means you can’t just list your NFTs on Shopify’s website. You’ll need to create your own.
Fortunately, that’s easy to do even if you’re starting from scratch. There are plenty of themes to choose from. And should you already have a website, you can just transfer it so that it’s hosted on Shopify’s servers.
When developing your site, make sure that you think about all of the elements. You want to make the whole process as seamless as possible. That’s the one advantage you have over other NFT sellers. When you have your own site, you can design it in a way that’s more optimal for buyers.
You can also look into search engine optimization so that buyers will have an easier time finding your NFTs.
Step 3: Specify Payment Options
As mentioned earlier, Shopify will let you select which payment options you want to add to your website. You can stick with cryptocurrencies or you can allow credit or debit card transactions.
We recommend that whatever payment options you end up using, you should have Ethereum available at the very least. Most NFT buyers are already using Ether. So making it one of the currencies will definitely help.
You might want to consider payment options like Apple Pay and Google Pay.
Step 4: Mint Your NFT
Once you have your backend set up, you can begin minting your NFTs.
It’s at this point where we have to make clear what Shopify’s policy is on selling NFTs. You can’t create or host NFTs on Shopify. Rather, you’re using third-party apps to mint NFTs.
What that means is that you’re only using Shopify as a storefront. It is not responsible for storing and distributing NFTs. So when you sell NFTs, you’d have to find a way to send them to your buyers.
And while you can sell NFTs on Shopify, you’d still have to abide by its Acceptable Use Policy. That means you can’t sell items that promote child exploitation, harassment, bullying, defamation, hateful content, and illegal activities. You can’t post content that infringes upon someone’s intellectual property. And you can’t use malicious and deceptive practices.
Step 5: Put Up Your NFT
After minting your NFT, you can now start selling your NFT by putting it up for auction. Remember that you want to offer more than one payment option to make the most of your Shopify store.
Also, you’ll want to make the whole process convenient for your potential customers. So if you’re going to list down a price, only use one currency. For example, you can list all NFTs in their US dollar value.
To help those who are paying using Ether or other cryptocurrencies, you can include the most recent conversion rate.
Shopify works with different cryptocurrency payment processors like Coinbase and BitPay.
That’s all there is to it.
Once you sell your NFTs, just ask the buyers for their information so that you could transfer the NFTs they bought.
Tips on Selling NFTs
Not only does Shopify let you sell NFTs, it gives you a whole website that you can use to market your products. So why not make the most of it?
Having your own NFT website means you can use search engine optimization to get more traffic to your landing pages. Using the right keywords on your website will help you rank higher on search engines so do your research.
Most NFT creators will have social media presence — and so should you. Fans will frequently check a creator’s social profiles to check if they will release NFT drops. You can also join NFT-related groups to not only see what’s trending at the moment but also release information about your works.
If you think your website could use a professional touch, you can hire freelancers who specialize in building Shopify pages. Fiverr is a great place to find affordable freelance workers but there are other platforms out there that you could use.
Presenting a beautiful and responsive website is important since it makes it easier for people to trust you. And when people trust you, you’re bound to make more sales.
In addition, hiring freelance web designers will help get rid of issues that might prevent your site from working. You can also get recommendations on how to make your shopping pages more conducive for growth should you attract more traffic than initially estimated.
Disadvantages of Selling NFTs on Shopify
Shopify isn’t a perfect solution for selling NFTs though. There are things that you have to keep in mind if you are to go this route.
For one thing, NFT marketplaces have a built-in audience. Your products are exposed to people who frequently visit these sites specifically for hunting new NFTs to purchase.
When you launch your own NFT website, you’re in total control of your marketing — which is a good thing. But you also run the risk of not seeing any return on your investment if your site doesn’t gain any traffic.
You also have to remember that Shopify plans aren’t free. And depending on where you are financial, you might not be able to afford to launch your own NFT site.
With all of that said, it’s still a good idea to have a standalone site for your NFT offerings if you’re in a position to have one.
Conclusion
Shopify does a great job of introducing NFTs to an audience that may not be as versed in cryptocurrency as others. Now people can buy NFTs using credit cards along with other payment solutions.
So if you want to sell NFTs and want your own website to do it on, Shopify seems like a no-brainer. It’s a fantastic way to create, promote, and sell non-fungible tokens.
