Shopify of Web3 Is Coming in NFTify
NFTify doesn’t roll off the tongue the same way as Shopify, but there are strong parallels between the web 2.0 giant and the aspiring web3 marketforce. The one-stop “NFT-commerce” shop built on the Polkadot parachain is gearing up for its highly-anticipated launch.
The NFTify token, N1, is hitting the open market through IDOs with PAID Ignition and PolkaFoundry Red Kite launchpads. PAID Ignition will be distributing 140,000 USD worth and Red Kite will be distributing 100,000 USD worth. PAID Ignition is one of the fastest rising launchpads in terms of their selections of high-quality and successful projects that have been kick-started through a glut of recent IDOs. The PolkaFoundry Red Kite Launchpad is a testament to NFTify’s commitment to building and growing their business within the Polkadot ecosystem.
NFTs but for Ecommerce
The N1 token will be available on Uniswap following the completion of both NFTify IDOs. The performance of N1 will be predicated by a myriad of factors: velocity of NFT sales, the number of businesses entering the NFT realm, the NFT hosting marketplace, and most importantly, the rate of increasing NFT use-cases.
The velocity of NFTs encapsulating traditional transactions like booking tickets, buying insurance, and small loans will force many businesses to step into the web3 realm just to keep up. When this happens, NFTify will be there to guide these businesses with the easiest NFT marketplace setup available. Whether these businesses know it or not, a step in the direction of fully transparent, onchain, peer to peer transactions is a vindication of web3 and its rapidly growing ecosystem.
Crypto Takes Over
Janet Yellen’s recent comments about rates having to rise in order to “stop the economy from overheating” may have marked the dawn of US dollars moving from oversaturated traditional web 2.0 markets to the businesses that are building on the next frontier of the internet. Whether she walks back her comments or not, savvy investors and innovators alike have stepped away from the dying market euphoria to re-evaluate chasing traditional market trends to invest time and money in the economy of the future: web3.
Small and large companies alike will no longer be beholden to controlling third-party giants like Google, Facebook, Oracle, and Neilson. These companies will be given the chance to build again on an internet that is much more similar to physical interactions than the internet we are used to. Customer data and transaction data will belong directly to the native business without having to hire adware, transactions will be fully transparent to merchants and customers, incentivizing businesses to act in good faith. As quoted by Vitalik Buterin, these changes will act as “destroyer of old jobs, creator of better ones.”
Web3 will be extremely daunting for the many businesses built solely on web2.0 infrastructure like cloud or centralized apps, but if the market decides that they prefer web3 and transparent onchain transactions, there will be enormous pressure for these companies to adapt or be left in the dust. This is reminiscent of the original websites which saw their success come to an end with the introduction of web 2.0 which ushered in a slicker and more mobile-friendly way to shop.
NFTify has stepped into the space of helping businesses transition or even begin on web3 and has the foresight to build its business on a parachain that will allow for cross-chain compatibility of assets. With a smooth UI, cheap pricing, easy-to-understand utilities and step-by-step guidance, NFTify is primed to step into Shopify’s shoes and traverse this new frontier of online shopping.