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Shiba Inu Latest Major Listing Launches It Into E-Commerce Spotlight: Book AirBnBs, Shop Online, And More | Bitcoinist
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Shiba Inu Surges 7% As Holders Can Now Shop At Nike & PS5 Watcher Guru
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Amazon will release an application on the Shopify ecosystem to enable US-based Amazon merchants to add Buy with Prime into their Shopify Checkout.
Shopify Inc (NYSE: SHOP) shares closed Thursday, end of August 2023, trading at $66.49, up 10.80 percent from the day’s opening price. Yesterday’s gains cemented Shopify’s impressive performance YTD, fueled by heightened use of online shopping. The sudden gains in SHOP shares were attributed to an announcement that Shopify merchants will have the choice to offer their products to Amazon.com Inc (NASDAQ: AMZN) Prime members on Shopify for the first time. The companies highlighted that users of the new services will continue to maintain 100 percent control of their brand and their customer data in Shopify’s admin. As a result, AMZN shares closed the day trading at $138.01, up 2.18 percent from the day’s opening price.
“This new app will make it easier for our merchants who also partner with Amazon to offer Buy with Prime to their customers on their Shopify-powered site. More choice means more opportunities to succeed as an entrepreneur, and that’s what we are powering here at Shopify,” Harley Finkelstein, Shopify’s president, noted in a YouTube video.
With the new application on Shopify, merchants can give Amazon Prime members access to Prime benefits like fast and free delivery outside of Amazon.com. As a result, online shoppers can now rest assured of more options to make their purchases with independent brands.
Shopify and Amazon’s Market Outlook
The close collaboration between Shopify and Amazon is expected to further enhance the e-commerce market in the United States, Canada, and beyond. Furthermore, both companies have dominated in their respective markets, and their volume is expected to further increase following their strategic partnership. The Buy with Prime app for Shopify will significantly simplify how sellers interact with buyers, hence drastically reducing the time spent navigating different brands.
“The build of this app was a collaboration with Shopify, and we’re excited to help merchants not only grow their businesses but also save time and resources – all while giving Prime members even more places to enjoy their shopping benefits,” Peter Larsen, Amazon vice president of Buy with Prime, noted.
Notably, the Shopify merchants previously managed Amazon’s Buy with Prime independently of their Shopify admin. With the Buy with Prime app for Shopify, the merchants are expected to see their orders automatically synchronized within the Shopify admin. Interestingly, Amazon highlighted that Buy with Prime increased shopper conversion by about 25 percent on average through the promise of fast, free delivery, and an easy return policy.
Meanwhile, the integration of Shopify and Amazon will significantly help their respective revenue collections. During the second quarter, Shopify reported total revenue of about $1.7 billion, up 31 percent YoY.
On Wednesday, Canadian e-commerce giant Shopify saw its stock swell following a JMP upgrade to ‘Market Outperform.’
Shopify (NYSE: SHOP) stock has surged after a JMP Securities upgrade. On Wednesday, the California-based full-service investment platform upgraded SHOP from Market Perform to Market Outperform with a $65 per share price target.
JMP Views Shopify Stock as ‘Leader in E-Commerce Enablement’
JMP analysts see an upside to Shopify stock after analyzing the OpEx structure across the website builders. In addition, analysts assessed third-party website traffic data and consulted with professional website developers across the platforms before arriving at their conclusion.
In reaffirming Shopify as the leader in e-commerce enablement with share upswing potential, JMP analysts said:
“Shopify GMV estimates have upside, while there is room for greater expense discipline. While we acknowledge macro remains a risk for 2H23 discretionary consumer spending and Shopify is in an investment cycle with SFN, the size of SFN investments is less than we initially feared, and we believe there is upside to our GMV projections as Shopify is gaining traction with larger enterprise businesses.”
JMP analysts also wrote:
“This as our OpEx analysis suggests Shopify has the opportunity to execute on cost synergies with Deliverr, and third-party traffic data suggests it continues to take share.”
Following the JMP development yesterday, Shopify shares rose 7% before paring down to 3.8%, or $46.50. However, as of press time, the Ontario-based e-commerce company’s stock was changing hands at $45.30. As of April 6th, Shopify’s average one-year price target was $49.97, with forecasts ranging from a low of $32.32 to a high of $85.50. In addition, the company’s average price target is an 11.58% increase from its latest reported closing price of over $44.
Shopify stock is also up 20% to 30% this year, buoyed by the upgrade. In addition, the company’s projected annual revenue is $6.7 billion, representing an increase of 21.13%.
Shopify
Shopify is a world-renowned e-commerce facilitator that offers online retailers several services. Retailers can use marketing, payments, shipping, and customer engagement tools to start and grow a business. According to Shopify, its platform and services are engineered for reliability. In addition, the Canadian company also strives to consistently deliver a better shopping experience for consumers across the globe.
In December 2021, Shopify boasted more than 2,000,000 businesses in 175 countries. Also, the e-commerce powerhouse was among the top 20 largest publicly-traded Canadian companies by market cap in July 2022.
Several reputable brands like PepsiCo (NASDAQ: PEP), Allbirds (NASDAQ: BIRD), Staples Inc, and Gymshark rely on Shopify.
Avalanche NFT Support on Venly
At the beginning of the year, Shopify onboarded support for Avalanche non-fungible tokens (NFTs). According to the company, merchants could now mint and list their digital assets using a Shopify blockchain app – Venly. This development negates the need for third-party facilitators such as OpenSea, Magic Eden, or Rarible.
Founded in 2018, Venly is one of the blockchain app partners integrated with Shopify. The service offers blockchain wallet solutions and plans to incorporate support for Hedera and Immutable X down the stretch.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
Talk about Dogecoin to your local coffee shop, your bookstore, your favorite restaurant, to any small business you may like. This is the way! #Dogecoin https://t.co/XEqEieQOlP pic.twitter.com/WZX6Xsn6bQ— Dogecoin (@dogecoin) July 11, 2022
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Tomiwabold Olajide
Continental Diamond now allows its customers to use cryptocurrencies as payment
Shiba Inu, Bitcoin and other cryptocurrencies are now accepted as payment by St. Louis Park-based jewelry store Continental Diamond.
This move reportedly makes Continental Diamond the first jewelry store in Minnesota to allow its customers to use cryptocurrencies as payment. The jewelry store, which dates back to 1981, will be using crypto payments processor BitPay for its merchant services.
BitPay officially announced support for Shiba Inu in late 2021, which allowed spending SHIB at hundreds of BitPay merchants where Shiba Inu is accepted. Aside from Shiba Inu, BitPay also supports other cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC) and five USD-pegged stable coins (BUSD, DAI, GUSD, USDC and USDP).
Other luxury fashion brands and businesses have also started accepting cryptocurrencies. As reported by U.Today earlier, Gucci, one of the famous fashion brands, stated that it will start accepting Bitcoin, Dogecoin, Shiba Inu and some other cryptocurrencies at select locations in North America.
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As previously reported by U.Today, Shiba Inu and other cryptocurrencies are also accepted as payments by luxury yacht charter and brokerage company Camper & Nicholsons. The 240-year-old company accepts cryptocurrency payments for its entire yacht fleet, for buying, chartering and all other services via BitPay.
Large holder buys $207 billion SHIB as price drops to $0.00001
ETH whale “BlueWhale0073” just bought 207,882,946,977 $shib ($2,365,707 USD).
Ranked #196 on WhaleStats: https://t.co/RBupemZyZX
Transaction: https://t.co/V1oK4nRInE#SHIB #ShibArmy
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 11, 2022
WhaleStats reports that a top ETH whale, “BlueWhale0073,” has bought 207,882,946,977 SHIB valued at $2,365,707. Shiba Inu briefly added a zero to its pricetag as it tumbled to lows of $0.000008 on May 12. SHIB has removed the zero and is trading at $0.0000106 at the time of publication.
As stated in an official Shiba Inu blogpost, Shiba Inu’s main financial components, Shibarium, SHI and SHIBFE, are presently in development and are nearing completion. Shiba Inu lead developer Shytoshi Kusama states in the blog post, “I refuse to give any hard dates at this time, but I expect to see one or multiple of these technologies before the end of summer or very early fall.”
Major American electronics retailer Newegg continues diving is enabling payments in major cryptocurrency and mem, Shiba Inu (SHIB).
Newegg officially announced Nov. 29 that it will start accepting SHIB as part of its holiday promotional campaign, starting “by early December.”
Hey #ShibArmy, how we looking on America’s largest digital out-of-home billboard? @ShytoshiKusama #Shib
We’ll be officially accepting @Shibtoken in by early December via @BitPay https://t.co/MR2ydiQpq6 pic.twitter.com/MyuxHSIjVw
— Newegg (@Newegg) November 30, 2021
In order to enable the new payment option, Newegg partnered with cryptocurrency payments platform BitPay. The firm previously unlocked payments in another dog-themed digital currency, Dogecoin (DOGE), through BitPay in April 2021.
“Through our partnership with BitPay, we have the ability to move quickly and lead the market with flexible cryptocurrency payment options. To that end, we’re excited to offer SHIB as a payment option on Newegg.com,” Andrew Choi, Newegg’s director of brand marketing, said.
Cointelegraph reached out to Newegg with additional queries and will update this article pending new information.
Related: AMC Theatres CEO considers adding Shiba Inu as payment for ticket purchases
As previously reported, Newegg became one of the first major online shopping stores to accept Bitcoin (BTC) when the company first partnered with BitPay back in 2014. Initially debuting the feature in the United States, the firm subsequently expanded the payment option to more than 70 countries.
Crypto adoption for payments is gaining ground across various industry verticals. Last month, American movie theater company AMC announced it was finally accepting four major cryptocurrencies: Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) after months of hints.