Everything you need to know about NFTs and the Venly x Shopify App

So you’ve made a collection of non-fungible tokens (NFTs) and want to start selling them? Or have a Shopify store already and want to integrate the ability to sell NFTs from it? Whether you’re an NFT aficionado or newbie, the Venly x Shopify App has got you covered for all that you need, from easy minting to fast and secure distribution. 

Wondering how? 🧐 Let’s find out everything you need to know with our Venly x Shopify App FAQs. 😃

Understanding NFTs

What is an NFT?

An NFT is a non-fungible token that takes the form of a unique digital asset. NFTs are what make it possible to own and authenticate a piece of digital item that could be anything from a JPEG or video making a work of art to an item in a game. An NFT is minted like a coin using a blockchain. It’s this innovative blockchain technology that provides a verifiable record of its existence and makes it secure for trading online. 

Why is it non-fungible?

The difference between fungible and non-fungible is in how something can be exchanged or traded. A fungible item is where a single unit can stand in for another without there being a loss or gain. 

For example, money is a fungible item, where a dollar bill or pound coin can be replaced by any other dollar bill or pound coin, and the owner will still have the same amount. NFTs become non-fungible when minted to a blockchain. While there might be two JPEGs that look the same, the NFT can be distinguished by its assigned unique digital properties. 

What is a digital wallet?

A digital wallet is similar to a real-life wallet, except it is used for cryptocurrency and other digital tokens and NFTs. Just like a physical wallet, digital wallets allow owners to store and view their online assets and transactions. They are made possible and kept secure by blockchain technology. 

What is the Venly x Shopify app? 

The Venly x Shopify app provides users with an easy interface for everything from designing and minting NFTs to selling securely to customers. The app makes NFTs easy for both creator and customers as the buyer through a Shopify partnership that can integrate with existing stores or help buyers purchase NFTs in a familiar e-commerce format. 

Buyers aren’t required to set up their own digital wallets prior to purchase. The Venly x Shopify app automatically creates a wallet for them. This can be accessed from the email address they provide to receive their NFT. The integration is currently only available to Shopify+ merchants via the Shopify app store. 

FAQs

How many smart contracts can we create?

You are able to create one smart contract. Depending on your plan, you can have several different NFT Templates to mint NFTs from. Each unique template would be tied to the same smart contract. Future updates to the app will enable you to create more than one contract.

How do we access the link to the smart contract?

Your smart contract link can be found within the NFT Details section of the NFT. Once you click ‘Edit’ for an NFT Template, you can find the ‘View Smart NFT Contract’. You can use this link on your product page to prove the NFT lives on the blockchain.

Can users pay with crypto if they want?

Yes, you are able to integrate with a crypto payment provider if you’d like to have that option for your users. Coinbase Commerce is a popular choice for integrating with Shopify.

How does the NFT get sent to the customer?

Once a user purchases the NFT, they will receive an email with their NFT already in a Venly wallet. The user simply has to click a link in the email to view and access their NFT.

Ready to get selling? Get the app now! 😈💥