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Avalanche NFTs Now Integrated into Shopify for the masses

Venly and Avalanche have developed a new solution that allows users to create and broadcast NFTs at a significantly lower cost than Ethereum. Shopify is exploring the possibilities of this solution, such as selling NFT art, avatars, and tickets. This cooperation is an example of how Web3 technology can be used to open up new opportunities in eCommerce.

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In the crypto year 2022, NFTs (non-fungible tokens) were the reason for heated discussions beyond the crypto scene: critics consider the unchangeable tokens, which are often interpreted as small works of art, to be unnecessary and money-making. Supporters point to a variety of uses for NFTs, citing for example Instagram where the integration of NFTs is reaching millions of people. In this mixed situation, a message from Avalanche makes you sit up and take notice, describing how NFTs can now become bulk goods for Shopify online shops.

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Shopify is a software solution for online shops that is used by more than 1.7 million companies worldwide

These customers can now easily create NFTs based on Avalanche (AVAX) through a Shopify-compatible app extension called Venly. create (“Minten”) and sell. The highlight here: When buying these NFTs, end customers do not initially come into contact with AVAX and other specifics of the crypto world, but pay as usual with Fiat via their credit card or other channels. When the purchase is complete, the new owner of the NFT will receive an email with a unique link to an Avalanche wallet where the NFT is already secured. Also, to create NFTs in this solution, traders and creatives do not need any prior knowledge of crypto or AVAX, just a subscription to the Venly app.

Spokespersons from Venly and Avalanche emphasize that their solution also has the great advantage of low fees compared to the NFT market leader Ethereum (ETH). Creating and broadcasting an Ethereum NFT can easily cost $100+, with the Venly and Avalanche model costing less than $10. For Shopify, the head of the blockchain department, Christina Lomazzo, can be quoted as saying that the cooperation proves how new possibilities are being opened up by Web3 and e-commerce. It would also be possible, for example, not only to sell NFT art via the new channel but also NFTs as avatars or admission tickets.

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Conclusion: NFTs as mass-produced goods? Avalanche, Shopify and Venly with an exciting approach

Several infographics on NFTs showed in 2022 that in Germany there is still a lot of catching up to do in terms of understanding, but on the other hand, German citizens do not condemn NFTs. The solution that has now been rolled out by Shopify, Avalanche, and Venly has the potential – not only in this country – to advance the mass adoption of NFTs.

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(Featured image by Open Grid Scheduler CCO 1.0 via Flickr)

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First published in BLOCK-BUILDERS.DE, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Michael Jermaine Cards is a business executive and a financial journalist, with a focus on IT, innovation and transportation, as well as crypto and AI. He writes about robotics, automation, deep learning, multimodal transit, among others. He updates his readers on the latest market developments, tech and CBD stocks, and even the commodities industry. He does management consulting parallel to his writing, and has been based in Singapore for the past 15 years.