What will online commerce look like in the age of Web3? Shopify teamed up with Thirdweb to answer this question and explore how to adapt to the new paradigm.
What is the Partnership Between Shopify and Thirdweb?
The leading e-commerce company Shopify and Thirdweb, a Web3 infrastructure protocol, will launch together a toolkit that will enable developers to build Web3-enabled e-commerce applications. Called the “CommerceKit”, this tool makes it easier for developers and merchants to integrate Web3 features in their online stores and websites.
Therefore, store owners will be able to improve their e-commerce apps. They can use the tool to integrate NFT-based digital collectibles giving access to exclusive token-gated items or on-chain loyalty programs, for example.
Alex Danco, Director of Product at Shopify, is convinced that this represents à huge step forward. “As a merchant, understanding your customers and finding new buyer segments is mission-critical for running a successful business”, he said. Therefore, “we’re excited to partner with Thirdweb, the fastest shipping team in Web3, to help make smart contracts and Web3 wallet addresses an essential part of the commerce and loyalty toolkit.”
When E-Commerce Opens to Web3
Online store owners will be able to implement Web3 applications without any specific knowledge. Moreover, they will have new options to engage with their clients. Furthermore, they will have access to a new stream of on-chain data. This could help them build more personalized shopping experiences. Loyal customers that hold NFTs could access exclusive sales or products, or pre-sales.
Customers will also be able to experience Web3 technology without being familiar with blockchain or cryptocurrencies. With the Toolkit, store owners can implement an option to buy NFTs using credit cards.
Jake Loo, co-founder and CTO of Thirdweb, believes that the initiative can kickstart a Web3 commerce revolution. “We’ve spent the last 18 months working closely with Web3 developers and brands interested in building blockchain apps”, he says. “It became clear that integrating Web3 with commerce had huge demand, and we believe Shopify is the best possible partner we could work with to build these tools.”
This partnership is another illustration that Web3 is on the verge of going mainstream. It will allow millions of shop owners to experiment with NFTs and cryptocurrencies. That could be an important step toward big changes in the e-commerce industry.
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