Fintechs.fi

Fintech & Crypto News

Shopify Releases Merchant Blockchain Tools

Shopify NFT merchants may now employ tokegating to restrict access to unique items, NFT drops, and advantages.

Shopify, a crypto-friendly e-commerce platform, announced a suite of blockchain commerce solutions to improve the user experience of its web3-focused businesses.

On Feb. 9, Shopify blockchain team designer @ryancreatescopy tweeted, “we’ve launched some fresh tools to help you buidl tokengating solutions for Shopify merchants.”

Enhanced crypto wallet connect features and “tokengating” API capabilities are emphasized. The latter has been under early access beta access since June 2022 and was previously only available to a few businesses.

Tokegating allows eligible Shopify shops to restrict token holders’ access to exclusive items, NFT drops, and incentives.

The technology lets NFT Merchants reward certain users or give exclusivity to specific items by verifying user eligibility via their associated wallet.

tokegating example: Shopify

Shopify supports the Ethereum Name Service (ENS) and Ethereum Foundation’s Sign-In with Ethereum SIWE protocol for crypto wallets.

SIWE allows secure Ethereum account sign-ins and ENS Domain authentication without revealing private identifiers like names, phone numbers, and addresses.

Shopify has struggled with user privacy. A group of dissatisfied consumers launched a class-action lawsuit against the corporation and hardware wallet manufacturer Ledger in April 2022 over a massive 2020 data leak.

On Feb. 9, ENS Labs community advocate @sadaf.eth tweeted about the SIWE integration with Shopify and linked to developer docs on how to integrate the technology into Shopify businesses, delighting Ethereum community members.

“The statementGenerator prop allows you to customize the statement displayed in a Sign-In with Ethereum message. The function receives the address of the wallet that has connected, allowing you to expand and customize your message statements to better suit your brand,” the document reads.

Once a retailer sets up the SIWE functionality on Shopify wallet connect, consumers may click a “sign-in with Ethereum” button to link their addresses via SIWE’s partnered intermediaries including Coinbase, Fortmatic, WalletConnect, Portis, and Torus.