Shopify Adds Avalanche to Enhance NFT Adoption
Avalanche is an efficient blockchain that will reduce processing requirements for transactions.
Avalanche is now part of the Venly Shopify App
E-commerce giant Shopify has announced that merchants using its platform will now be able to create, mint, and sell non-fungible tokens (NFTs) on Avalanche, a high-speed, secure Layer-1 blockchain. To do so, users will need to utilize the Venly Shopify app, a blockchain technology company that has formed partnerships and developed NFT collections since its founding in 2018. The system supports fiat forms of payment, such as credit cards, so buyers and sellers will not need to create an Avalanche wallet or use cryptocurrency. This development may make the widespread adoption of NFTs more achievable.
The Venly app allows sellers to utilize their NFTs for various purposes, including attaching them to physical products or offering token-restricted communities or experiences. The app is designed for ease of use, allowing sellers to create and sell Avalanche NFTs with minimal technical knowledge. Venly chose to support Avalanche due to its speed, reliability, and environmentally-friendly qualities. The company aims to include blockchains with low gas fees to ensure that sellers do not have to pass on high fees to their customers. While gas fees have become less volatile since the peak of the NFT craze in 2021, they can still fluctuate.
Avalanche Activities in 2022
Despite a decline in the cryptocurrency market in 2022, several companies, individuals, and blockchains have made headlines. Avalanche, a Layer-1 blockchain, was featured in several news stories and a feature piece during that year.
In December, Avalanche announced a partnership with the International Chess Federation to bring the sport's over 500 million players into the Web3 realm and improve the integrity of chess. Additionally, in December, we published an article discussing the cost of creating an NFT on various blockchains, including Avalanche. On Avalanche, the cost of minting a single NFT ranges from 50 cents to $1.50, which is lower than some other blockchains.