What is the NFT offering from Fuel Made?
Fuel Made will help you prepare your storefront to sell NFTs through your Shopify store using Shopify Payments, or crypto payments through the Shopify checkout. We’ll then help you enable token gated perks (i.e. perks that only NFT holders get) on your store.
How does it work?
- The buyer purchases an NFT through your Shopify store, the same way they would purchase any other product (add to cart, checkout). They can pay with fiat (e.g. USD) or cryptocurrency.
- As the customer checks out, they’ll connect their crypto wallet from which we’ll collect their wallet address for delivery. If a buyer doesn’t have a wallet, we’ll guide them through an onboarding flow.
- The NFT gets minted directly into the buyer’s wallet after checkout.
Which blockchains do you support for NFTs?
We use the Solana blockchain. Solana is known for its speed, low transaction fees, eco-friendliness, and ease of use for end customers.
What are the costs associated with selling NFTs?
There are three primary fees to consider when selling NFTs:
- Shopify’s fees: Shopify treats NFTs the same as any other product. Shopify plan fees stay the same, including credit card processing fees through Shopify Payments.
- Blockchain minting costs: Thanks to the low transaction fees on Solana, this cost is nominal (typically under a penny).
- Set up and service fee from Fuel Made: Fuel Made’s costs for helping you sell and mint NFTs are different for each client, but typically include a setup cost (starting at $X USD), and a monthly retainer cost for ongoing support (no long-term contracts, cancel any time), these start at $X/mo and we strongly recommend a minimum of 3 months of ongoing support as you launch your project.
How does the onboarding process work?
Onboarding to sell NFTs includes an internal underwriting and vetting process by Shopify’s compliance team. This process ensures that merchants own the right to the intellectual property they’d like to mint into NFTs, and are not dealing in securities, raffles, or anything else that violates Shopify or Shopify Payment’s terms of service.
Once the underwriting process is completed, their legal team issues the merchant an attestation. The attestation must be signed by the merchant before they can sell NFTs.
Once approved by Shopify, Fuel Made will help you set up your store to sell and mint NFTs.
Can merchants enable a secondary sale marketplace through Shopify?
Currently Shopify allows only primary sales for NFTs.
Secondary marketplaces can be presented on Shopify stores, but the purchasing process must happen on that marketplace (not on Shopify). Fuel Made can help you set up a secondary marketplace on your store (connecting to a third party) for an additional cost, or we can help you link out to a third party to handle those secondary sales directly.
What is the difference between a primary sale and secondary sale?
- Primary sale is when the NFT first gets sold by the merchant and minted directly into a buyer's wallet.
- Secondary sales are peer-to-peer sales.
Can we bundle an NFT and a physical product?
What is token gated commerce and how can we use it?
This is the mechanism for providing value to your customers who have purchased/minted an NFT from you!
This idea is best illustrated with a simple example:
A customer arrives at your store. They connect their wallet, and we can see that they have one of your NFTs in their wallet. Because of this, they unlock special privileges. Some examples of special privileges might be:
- A 10% discount on all sales
- Free shipping
- Early access to special collections
There are lots of fun and creative possibilities here which we’ll help you think through.
What does Fuel Made do?
Fuel Made will help you prepare your site for (1) promoting, (2) selling, (3) minting NFTs. We optionally help you create an (4) on-site secondary marketplace . (5) We will also help you create token-gated benefits for your NFT holders.