Single Adds Tokengated NFT Commerce For Musicians, Others As Shopify Invests - Hypebot.com

Single Adds Tokengated NFT Commerce For Musicians, Others As Shopify Invests – Hypebot.com

Single is now enabling tokengated commerce and content for musicians and other creators on Shopify and landed a secured a strategic investment from the e-commerce powerhouse.

Single helps power 3,000 artist and label stores on Shopify, helping to sell millions of albums and more than a million livestream tickets,

By integrating Web 3.0 functionalities into its Shopify app, Single is empowering musicians and other creatives with tools to engage with their fans in new ways and to unlock innovative commerce experiences.

What Is Tokengating & How does it work?

Tokengating is a method of adding value and utility to an NFT by allowing the holder exclusive access to content, a community, and even or even physical products. Think of it as a key that the creator can enable or disable at will, but still remains an ongoing part of the NFT.

“A better way to think about tokengating is to compare it to a fan club,” said Tommy Stalknecht, founder and CEO of Single. “A fan purchases an NFT through a creator’s Shopify storefront, which gives them access to exclusive offerings and experiences that only fellow NFT owners have access to. Put simply, we’re letting artists create NFTs that actually do things… that unlock specific tangible value,”

Single’s process is quite straightforward: a creator uploads any file to the Si