Turn Your Shopify Products Into NFTs
If you’re an artist, chances are you’ve heard about Non-Fungible Tokens (NFTs). Non-fungible items cannot be easily exchanged or traded for something else of the same type and value. For example, a dollar is fungible-- you can trade dollar for dollar, and it will have the same value. A painting, however, can’t easily be exchanged for another painting unless you go through the rigorous process of valuation. Paintings are examples of non-fungible products.
In the online space, NFTs are sometimes called “digital art” or “crypto art.” This is because you’re buying literal art, but it’s digital. You can only view it on your cell phone or computer screen.
If it’s digital, can’t someone just take a screenshot of it?
Well, technically, yes, but that doesn’t mean they own it. Anyone can take pictures of the Mona Lisa from the Louvre, but that doesn’t mean they OWN the painting. NFTs are backed by a global, decentralized accounting system called the blockchain. Information on the blockchain is immutable, meaning the data is irreversible. Once you take digital ownership of a product verified on the blockchain, it’s yours forever (unless, of course, you pass the ownership on to someone else), and no one else can fake that claim.
NFTs don’t necessarily have to be paintings. They can be anything digital such as a video clip, music, animation, etc. A 10-second video of a defeated Donald Trump even sold for $6.6 million! How crazy is that?
But what if you have a Shopify store with physical products? Can you still turn these into NFTs?
The answer is yes. These products are called “Phygitals.”
NFTs for Shopify
Physical products that have a digital identity are called Phygitals. It converges technologies that bridge the digital and physical worlds to create engaging, interactive experiences for enterprises and consumers.
Want to turn your Shopify products into NFTs? Contact us here for a free demo.
How NFTs Secure Your Products
NFTs and digital ownership is cool, but did you know that they also add another layer of protection to your products? Real Items provides each Shopify product with a unique QR code and one-time pin. This two-factor authentication allows sellers to track their products and ensure they do not end up with unauthorized 3rd party resellers. Since there is no centralized control of data, product information of each Real Items NFT cannot be cheated, and there is a record of accountability.
Because Real Items credentials are verified on the blockchain, they can never be copied. Hence, there is no room for counterfeits. Whether you recently launched your brand or it has been around for a few years, your intellectual property is guaranteed to be safe.
Real Items also gives Shopify store owners access to its intuitive and easy-to-use platform called Tokenized Asset Manager (TAM). TAM allows sellers to add their goods to the blockchain easily, and directly communicate with consumers. This direct communication ensures that concerns are easily answered, and customers are satisfied.
Intellectual property protection, an unforgettable customer experience, and convenient data management. These are just a few of the benefits of turning your Shopify products into phygitals. If you’d like to incorporate these into your business, fill out the Real Items questionnaire and join the conversation with other store owners in our Discord.