The music commerce app Single has received an investment from the online shopping service platform Shopify.
The company has also rolled out tokenized commerce and content features to its app.
Nashville-based singles formed in 2016 by Tommy Stalknecht as a music-specific toolset for online stores. The company handles merchandise sales and records, sales reports, ticket sales, live concerts, and more.
As of July 2022, Single says it has worked with more than 3,000 artists and labels, and has reported disc sales of more than 20 million copies, distributed over 5 million digital albums, and facilitated for more than 500 live events with approximately 1 million tickets sold.
Single’s customers include Living country and STAFFamong others.
The company has also worked with artists such as Juice WRLD, Travis Scottand Harry Styles.
With the release of content and token commerce for Single App on Shopify, Single claims that “in just a few minutes” creators can upload any file to Single Platform to mint it as an NFT on the Solana blockchain.
The company says they can then push it directly to their Shopify store to be purchased by fans alongside their existing merchandise.
After purchasing an NFT, fans can use their NFT as a “digital key” to gain access to exclusive services from creators such as merchandise, audio or video content, live streams continue, etc.
By integrating Web 3.0 functionalities into its Shopify app, Single claims to “empower advertisers, artists, and musicians with tools to engage with their fans in ways new ways and unlock innovative commercial experiences”.
“Web 3.0 is having a huge impact on the broader creator ecosystem, especially in the music space, but the response I hear most often is that NFT is inherently unvaluable.”
Tommy Stalknecht, Single
Singles founder and CEO Tommy Stalknecht said: “Web 3.0 is having a huge impact on the broader creator ecosystem, especially in the music space, but the feedback I’ve often come across The most heard is that NFT inherently has no value of its own.
“A better way to think about tokengating is to compare it to a fan club. A fan purchases an NFT through the creator’s Shopify store, which gives them access to exclusive services and experiences that only fellow NFT owners can access.
“Simply put, we are allowing artists to create NFTs that actually do things [and] unlock specific tangible value. ”
“Enhanced Commerce provides creators with the ability to engage with their true fans by unlocking unique commerce experiences through NFT.”
Chevy Walcott, Shopify
Chevy Walcott, Shopify’s Director of Business Development added: “Extended Commerce offers creators the ability to engage with their true fans by unlocking unique commerce experiences through NFT.
“Shopify sees NFT as a tool for community building and engagement.
“The launch of…new Singles features in their Shopify App helps more merchants unlock new and more immersive commerce experiences. Our investment in Single and our growing blockchain ecosystem demonstrates our commitment to further growing participation in Web 3.0 and expanding commercial viability for creators. , artists and musicians. “
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