The Problem with NFTs and Ecommerce: Lack of Technological Understanding

– Lack of understanding of technological architecture is a major problem in the NFT and ecommerce space.
– Early adopters are at risk of getting burned due to rushing into the space without the necessary knowledge.
– The current approach to NFTs and ecommerce is flawed, as demonstrated by a recent apparel drop that had unnecessary restrictions and loopholes.Ensure that proper technological architecture is in place before rushing into NFT and ecommerce projects to avoid potential issues and pitfalls.The biggest problem with NFTs and e-commerce is the lack of understanding of technological architecture. NFTs are going to be big, of that I’m sure, but the current approach won’t be how they become big. The larger issue is that early adopters are going to get burned hard because everyone is rushing into this space without the knowledge necessary to take a project from point A to point B without stepping on a landmine. Case in point, I’m sharing this because I reached out to the company directly but never heard back. The Hundreds partnered up with other NFT projects to do a limited apparel drop, and they sold out in a few hours. It was cool to see. I was tracking the drop and observing their experience on Shopify. I was more puzzled than anything else because what they were claiming to be able to do, we had internally discussed, just isn’t possible from a technological architecture point of view in the way that most people are attempting to do it. So the drop happened, and we went to the website. The content was visible, but to view the product page, you needed to log in to your Shopify account and then connect your wallet. It’s interesting to require a Shopify login; this shouldn’t be necessary. The same restrictions weren’t dependent on the NFT but rather a combination of the NFT and the Shopify account – weird, but we’ll go with it. The problem is the gate wasn’t real; it’s all front-end magic to make it appear real. Now, those that purchased NFTs to be part of this club for access had spent over $50k on NFTs for access to drops like these and priority, but the problem was they weren’t needed. It took my co-founder less than 10 seconds to do what you saw in the video. He was even able to just send me a link to the checkout directly for anyone to be able to checkout. A coordinated event like this could have netted a sold-out collection to people that didn’t hold NFTs at all and let the resale market go wild. E-commerce arbitrage. The majority of agencies rushing into this space to ride the NFT wave don’t have the technological experience of setting up applications to design what’s needed to prevent this. The liability sheet for the Hundreds is small right now, but with future drops and popularity, this problem becomes massive. We are posting this in hopes of raising awareness to where the industry currently is. We are beyond bullish that NFTs and ecommerce will be the future, BUT if you’re thinking of making something happen, please get in touch with us first so we can work with you to avoid what’s about to be the norm for any store doing a launch.#NFTS #ecommerce #strategy

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