Venly, is a SaaS project that is responsible for onboarding different businesses and users from Web2 to Web3 with secure and easy to use software products. Now, they have announced that they will have Avalanche blockchain support in Shopify NFT Minting.
Venly, the company that offers blockchain technology to bring businesses and users closer to the Web3, officially announced that its Shopify NFT minting software will now support the Avalanche blockchain.
This blockchain is a layer 1 platform, mostly used as a faster and less expensive alternative to the main Ethereum network. Previously, this Venly service was available to a select group of Shopify. However, they now confirmed that it is available to all merchants on the website.
Moreover, Venly stated that buyers will not need to use cryptocurrencies or a unique Avalanche wallet to purchase NFTs, but will be allowed to pay with fiat currency (such as a credit card) and then receive a link to a newly created Avalanche wallet containing the newly minted NFT, which they can then move to another location if they wish.
The ecosystem surrounding Shopify has a number of partners offering applications built on blockchain, including Venly, a startup that was created in 2018 that also offers other solutions such as crypto wallets.
This is not the first time a company has offered NFTs services on Shopify NFT Minting, as, in October last year, Tacco App partnered with the Tezos blockchain to allow users to access different non-fungible Tezos tokens through the “NFT by Tacco” loyalty program.
E-commerce platforms such as Shopify are employing add-ons to the Tacco application to enable merchants to use different services and allow Tacco to offer Web3 solutions such as NFTs to drive consumer interaction and loyalty.
Tim Dierckxsens, co-founder and CEO of Venly, weighed in on this new tool and partnership with Avalanche and Shopify and said that the company had initially provided NFT minting tools to Shopify brands and artists, but then there was a huge demand for basic no-code solutions that any seller could use to mint their NFT.
He further added that Shopify asked Venly to design an app for its merchants to facilitate easier and faster non-fungible token sales to core users.
Also, he said that he believes this step taken by Venly is one of the biggest evolutions for NFTs, since, it can be brought to a mass market and you don’t necessarily have to have cryptocurrencies to make the purchase.
Venly, also think of other possible use cases that include linking NFTs to tangible targets for authentication, offering NFTs tokenized experiences, and selling collectibles in non-fungible token format through Venly.
In addition, there is a great opportunity for artists and creators to sell NFTs through social media platforms that can link or interact directly with Shopify’s online stores.
Christina Lomazzo, Shopify’s blockchain ecosystem lead also weighed in on these partnerships and new services, and said that the growing ecosystem of the blockchain industry demonstrates the commitment Shopify has to supporting merchants while selling NFTs directly through third-party companies like Venly. He ended by saying that this will help further increase business and user participation in Web3.
What is Avalanche
Avalanche is an open source platform for launching decentralized applications and enterprise blockchain technology implementations in an ecosystem that is becoming increasingly scalable.
In addition, Avalanche can process around 4500 transactions per second and confirm transactions instantly, making it easy for Ethereum developers to take advantage of Avalanche quickly, as Solidity (programming language) works out of the box.
Venly offers different services for projects that want to implement blockchain technology and digital wallets to store assets. In addition, its development allows it to also work for mobile devices.
Venly recently launched “Venly Market” and positioned itself as one of the most user-friendly solutions as it helps blockchain projects scale faster and more securely. Venly Market is the first peer-to-peer NFT marketplace on Polygon, where users can exchange non-fungible tokens in a fully compliant environment.
Beyond Venly Market, this company also offers services such as “Venly Wallet“. Thanks to these services decentralized blockchain projects and applications can tap into a new revenue stream such as NFTs and gaming.
What is Shopify
Shopify is an e-commerce platform, which thanks to its technology and tools, offers businesses and professions the opportunity to set up an online store in a super simple way and in a short time.
It was founded in 2006 by Canadians Tobias Lütke, Scott Lake and Daniel Winand. The three have created a platform that has grown exponentially every year and is one of the leading companies in e-commerce solutions.
According to Google Trends, you can see how Shopify’s global impact on search trends has grown dramatically year over year.
The peak of popularity was in 2020, precisely in the key months of the Covid-19 pandemic.
Finally, around 820,000 merchants worldwide are currently using Shopify for their online stores.
At the end of 2021, Venly made its “Shopify NFT” minting tool available on Polygon, Ethereum’s scaling network. Now, the second blockchain to receive support will be Avalanche and from Venly they have confirmed that they will be including support for NFTs created with Hedera e Immutable X.
All investment or financial opinions on behalf of NFTexpress should not be taken as recommendations. This article is informational/educational material. Before making any type of investment do your own research.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.