Venly is revolutionizing the non-fungible token market. The startup has successfully integrated its Shopify NFT builder application on the Avalanche blockchain. Thousands of Shopify merchants now have access to a digital art marketplace thanks to Venly.
The answer to a need?
On Thursday, Shopify got an extension that will sell non-fungible tokens (NFTs) on its platform. An innovation made possible thanks to a technological start-up called Venly. The millions of merchants on the e-commerce platform have the opportunity to sell digital art minted on Avalanche.
In short, it is no longer necessary for a Shopify merchant to direct their customers to a traditional marketplace in order to do this to sell its NFTs.
Concretely, this Shopify marketplace allows buyers to acquire NFTs using fiat money. Upon purchase, they will receive a link to a newly created Avalanche Wallet containing the newly minted NFT. According to Venly, buyers will not need to have an existing Avalanche wallet or manipulate cryptocurrencies to buy the desired tokens.
The app also offers merchants the ability to offer experiences related to NFT tokens on their store. They can also tie NFTs to physical products for authentication, among other potential use cases.
A revolution for the NFT market
Tim Dierckxsens, co-founder and CEO of Venly, says he has seen a growing demand for a simple, no-code tool that any vendor can use to create NFTs. The extension of Avalanche support by this application is therefore a significant step forward for the market. In fact, it will enable the creation and sale of NFTs to a much wider audience.
“I think this is one of the biggest developments for NFTs, as they open up to a mass market. What’s even more interesting is that you don’t have to understand the need for cryptocurrencies to make purchases.” He added.
This innovation comes at a crucial time when NFT prices are at their lowest. Perhaps it will help drive interest in and adoption of this technology. For analysts, the coming months are likely to see an increase in the creation of digital art paintings and a recovery in the market.
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Far from dampening my enthusiasm, a failed investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to convey information related to this ecosystem with my pen.