Blockchain Music App Single Announces Shopify Collaboration!

Single, the most trusted music and video app for Shopify merchants, recently announced a strategic investment to further Shopify's development. The news accompanies Single's launch of additional NFT-based functionality in the form of token trading and features for Shopify merchants. In addition to music and video features, Single will be a pioneer for NFTs utilizing Solana Blockchain technology.

Creatives, from artists to musicians to podcasters, have experienced spectacular growth over the last decade with the rise of social media and other digital tools. NFTs provide a way for creatives to connect directly with their fans, reducing their reliance on intermediaries. With Shopify, content creators will be able to upload any file to the platform through a single app. They will also be able to mint it as an NFT on the Solana Blockchain. The NFT will then be listed directly on the artist's Shopify store for purchase like any other product. It is possible to use the NFT as a digital key to give the owner access to exclusive content. According to analysis by Chainanalysis, NFTs were prominent in 2021 with sales of $40 billion. It was also noted that despite the crypto winter in 2022, it exceeded $42 billion. Many creators, from musicians to YouTube influencers, often choose to produce goods as a way to build community. But managing inventory and sourcing materials is a full-time job in itself. Since 2006, Shopify has been filling that role in the creative economy. This allows them to connect fans with products without the burden of all the logistics that come with the territory. Shopify sees NFTs as community building and engagement tools. The launch of Single's new artist and creator-centric features in Shopify apps will help more merchants unlock new and engaging commerce experiences. Web3 initiatives often refer to NFTs with benefits that are separate from the utility or intrinsic value of the NFT. But creators have limited means to deliver utility. This also makes it difficult to take full advantage of the Web3 economy. Single's initiative aims to address these challenges. Now, a musician who prints a music NFT and sells it to fans will not only create value. It will also generate additional benefits. Other Web3 companies are also looking for ways to strengthen the creative economy.   Source: nfxhaber.com