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Shopify Adds NFT-Gated Option for Online Retailers - Top Crypto Updates
Shopify introduces NFT-gated storefronts for exclusive shopping experiences. Bitcoin, Ethereum, Solana, Cardano, and Avalanche see price increases. Coinbase plans to discontinue its Pro service, while Tether will launch a British Pound Sterling-pegged stablecoin.
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Key takeaways
- Shopify is launching non-fungible token (NFT)-gated storefronts as a new feature for brands looking to make their stores more exclusive.
- Bitcoin is currently trading at $20,563.91, an increase of 2.58% over the previous day, and Ethereum is up 2.32% to $1,100.84.
- Coinbase announced its plans to discontinue its advanced, trader-focused Coinbase Pro service by the end of the year, to be replaced by Advanced Trade.
- Tether has announced plans to introduce a token pegged to the British Pound Sterling next month, which will be initially supported by the Ethereum blockchain.
- The Goods & Services Tax (GST) council will meet next week to discuss a GST on cryptocurrency transactions, potentially placing crypto in the highest tax slab of 28%.
Shopify adds NFT-gated option for online retailers
Shopify is launching non-fungible token (NFT)-gated storefronts as a new feature for brands looking to make their stores more exclusive. Token holders can connect a crypto wallet to unlock exclusive shopping experiences, from early access to drops and limited collections to one-of-a-kind experiences. Shopify is a Canadian multinational e-commerce company.
Crypto prices today: Bitcoin rises 2.5%, ETH up 2.3%
Bitcoin is currently trading at $20,563.91, an increase of 2.58% over the previous day. Ethereum is up 2.32% over the last 24 hours to $1,100.84. Solana rose 6.4% to $36.36, while Cardano is trading higher by 2.72% at $0.474. Avalanche (AVAX) surged 8% to $17.46. The global crypto market cap stands at $908.92 billion, a 2.36% increase over the previous day.
Coinbase to phase out trader-friendly ‘pro’ exchange
Coinbase announced its plans to discontinue its advanced, trader-focused Coinbase Pro service by the end of the year. The service offered lower fees to traders who interacted directly with the Coinbase Exchange order book. It will be replaced by Advanced Trade, a service that offers comparable features but that will live within the main Coinbase app and site.
Tether to launch stablecoin pegged to British Pound Sterling
Tether has announced plans to introduce a token pegged to the British Pound Sterling next month. The stablecoin (GBPT) will be initially supported by the Ethereum blockchain. GBPT is set to become the fifth fiat currency-pegged stablecoin launched by Tether, joining the U.S. dollar-pegged USDT, Euro-pegged EURT, and Chinese Yuan-pegged CHNT.
GST on crypto likely as council may take decision next week: Report
As per a Bloomberg report, the Goods & Services Tax (GST) council will meet next week to discuss a GST on cryptocurrency transactions. Discussions may be held on placing crypto in the highest tax slab of 28%. An additional tax on the industry could be troublesome for crypto exchanges and traders in the country.
Frequently asked questions
What new feature is Shopify adding for online retailers?
Shopify is adding non-fungible token (NFT)-gated storefronts as a new feature for brands looking to make their stores more exclusive.
What is the current price of Bitcoin?
Bitcoin is currently trading at $20,563.91.
What is Coinbase doing with its Pro service?
Coinbase announced its plans to discontinue its advanced, trader-focused Coinbase Pro service by the end of the year, replacing it with Advanced Trade.
Which new stablecoin is Tether launching?
Tether is launching a stablecoin pegged to the British Pound Sterling (GBPT) next month.
Written by
Cherian VargheseRelated reads
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