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.
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 Single Platform to mint it as an NFT on the Solana blockchain and pushes it directly to their Shopify storefront to be purchased alongside existing merch.
Following the purchase of an NFT, the fan can use their NFT as a “digital key” to gain access to exclusive offerings from the creator – merch, audio or video content, live streams, and more – a process known as tokengated commerce.
Visit this link to purchase a free Single NFT then use it to unlock a special prize: https://sn.gl/gating-demo.
RecentlyTikTok, YouTube, and Spotify all announced Shopify integrations, and Single tells Hypebot that purchase of their tokengated NFTs is compatible with all three. Fans just need to go to the storefront to connect their wallet and claim any gated products.
Bruce Houghton is Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.
Email address is not displayed with comments
Note: Use HTML tags like <b> <i> and <ul> to style your text. URLs automatically linked.
With the internet and digital technologies driving rapid change within the music industry, articles about new releases and who has been hired and fired are no longer enough. Our up to the minute industry news alongside insightful commentary helps our readers sift through the rumors and developments to find the information they need to keep their businesses moving forward.
Hypebot is read daily by more than 30,000 music industry professionals including executives and senior staff of music related tech firms, internet based music sites, every major label group and most indies as well as many managers, artists and members of the live music community:
Contact us for the latesst stats, ad rates and sponosorship opportunites. We also offer combined rates with MusicThinkTank.
“I swear by Hypebot every morning over breakfast.”
Derek Sivers
Founder, CD Baby
“Hypebot is the most focused music business centric resource we have.”
Celia Hirschman
One Little Indian, Downtown Marketing & KCRW-FM
“Well done.”
Seth Godin
Marketing guru
var F14249_sb_requiredFields=new Array();var F14249_sb_validateFields=new Array();F14249_sb_requiredFields.push(‘F14249_sb_Category’);F14249_sb_requiredFields.push(‘F14249_sb_email’);F14249_sb_requiredFields.push(‘F14249_sb_feedid’);F14249_sb_requiredFields.push(‘F14249_sb_publisherid’);F14249_sb_requiredFields.push(‘F14249_sb_cids’);var F14249_sb_fieldcol=’#000000′;var fbz_F14249_sb_logged=false;function F14249_sb_wait_fn(){try{if(!fbz_F14249_sb_logged){fbz_SmartForm(‘F14249_sb’,feedblitz_full_form);try{s(‘F14249_sb’);}catch(e){};fbz_FitForm(‘F14249_sb’);var F14249_sb_wait_img=fbz_formMetrics(14249,1);fbz$(‘F14249_sb_wait_img’).innerHTML=F14249_sb_wait_img;clearInterval(F14249_sb_wait);fbz_F14249_sb_logged=true;}}catch(e){}}
var F14249_sb_wait=setInterval(F14249_sb_wait_fn,100);
