Shopify is adding Web3-type capabilities to its ecommerce platform

Global e-commerce provider Shopify today took a major step into the future of online business by launching a slew of app updates and supplements that will rumoredly address the way how business is done in Web3.

Shopify, which for years has offered merchants a relatively easy way to launch their own online stores, now offers a range of tools for users interested in building new websites dedicated to social network-oriented merchandising and local shopping in partnership with Google, DeFi (banking), an NFT (Non-Fungible Token) marketplace, cryptocurrency, business-to-business marketing and sales, and other categories. Overall, Shopify is adding more than 100 new features to its base offering.

The company made the announcement as part of a new semi-annual product show called Shopify Editions, which will showcase new apps, features, and enhancements across the platform.

“At Shopify, we believe in the infinite game,” said Tobi Lütke, Shopify founder and CEO, in a media release. “That means we’re constantly pushing the boundaries of what’s possible for entrepreneurs. We work to solve the complex challenges merchants face today and envision entirely new ways for them to grow their business. With Shopify Editions, we’re sharing our big bets and latest innovations in commerce so those ambitious enough to try entrepreneurship can get started and scale faster.”

The new offerings are designed to help merchants of all sizes meet today’s challenges in running a business by opening new revenue opportunities and building long-term customer loyalty.

Some of the more important updates are as follows:

Tokenized Trading: This will be Shopify’s own approach to building its own home base for NFT sales and marketing interactions. Shopify Tokengated Commerce will use NFTs, which – at least initially – will be the creations of its users. Shopify didn’t say if it would provide tools for creating NFTs, but that information is expected to come later this year. The company said that tokengated “will be a way to reward true fans and VIPs by giving NFT holders exclusive access to products, perks and experiences.” Tokengated will connect crypto wallets to shops on Shopify. Merchants can enable Shopify token gated commerce experiences online, on mobile, and in physical retail, Shopify said.

B2B: B2B on Shopify will be a new home for retailers who only want to sell to businesses. B2B on Shopify isn’t just for companies that do wholesale; It is for everyone who wants to sell in the B2B universe. Business customers typically buy in specific patterns based on quarterly budgets and typically require different types of payment methods and tax requirements. The new platform will make it easier for global retailers to automate these things and potentially increase B2B sales.

Shopify on iPhone: What? Wasn’t this available before? Well it was released last month but not with much publicity. To increase shopping transactions, Shopify now offers users the ability to check out Shopify-powered transactions on iPhone. While other point-of-sale services have relied on POS hardware, Shopify leverages Apple’s Tap-to-Pay capabilities to make it easier for merchants to enable in-person payments with just an iPhone and no terminal required.

Shopify and Google: Shopify and Google have already worked together to provide products on Shopify-powered sites to make them more discoverable in Google searches. This is now taking on a site-specific bias. When customers are searching for a specific product associated with a Shopify-powered retailer or brand, shoppers can see if it’s available for on-site pickup at a physical store.

“We’re going to go wherever the retail world goes,” Glen Coates, VP of Product, said at a news conference. “We want Shopify to be a big, simple button.”