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Shopify: Merchants Can Add Utility to NFTs

The mass adoption of cryptos continues despite the massive volatility that we can see in the market. Now, the latest essential reports come from Shopify. Check out the latest reports below.

Shopify allows merchants to add utility to NFTs

According to the latest reports, the E-commerce platform Shopify is giving e-store merchants a new way to connect with loyal customers through non-fungible tokens (NFTs).

It’s been just revealed that Shopify customers can now connect their crypto wallets to stores on the platform to validate their own specific NFTs.

Another issue that is important to mention is the fact that this activation will then give them access to things pre-sales for drops, experiences in real life and exclusive content or merchandise.

The company calls this ‘tokengated’ commerce.

The Block online publication made sure to note that the feature was already being tested in beta-mode, by invitation only, to a select group of merchants with an NFT collection. Now, it is available to all merchants anywhere in the world.

The latest reports about this come as digital asset conference NFT.NYC takes place in Times Square.

“On Tuesday, entrepreneurs, NFT artists, designers, and businesses took the stage of Edison Ballroom to discuss fashion, e-commerce and NFTs,” according to the online publication mentioned above.

They also noted the fact that one theme that emerged from the panel discussions was the increasing role that utility will play in ensuring NFTs hold their value long-term.

The latest news in the crypto space

The digitalization of the world is taking place as we speak at a really fast pace.

The Block online publication notes that there is massive political attention on digitizing the dollar, and according to the latest reports, there is one member of Congress who has laid out his vision.

On June 22, Rep. Jim Himes (D-CT) released a white paper called “Winning the Future of Money: A Proposal for a US Central Bank Digital Currency.”

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