A quick look into the customer experience of non-custodial and custodial NFTs
Intro
In web3, the concept of “custodial” and “non-custodial” has to do with whether the NFT owner retains full ownership of the digital asset in their own digital wallet, or if they simply view the NFT behind a username and password.
Non-Custodial
After purchasing a non-custodial NFT, the user connects their digital wallet and runs through a "claim" process to receive their NFT. Once the NFT is withdrawn to their wallet, they retain full control via their wallet's keys.
Below is an example of a customer's Shopify order confirmation page after purchasing a non-custodial NFT - which leads directly to a claim flow:
Custodial
In a custodial setup, a customer accesses their NFT through a username and password on the platform's website or app.
Below is an example of a customer's Shopify order confirmation page after purchasing a custodial NFT - which leads the user to activate their account in Shopify. Once the account is activated and the user is logged in, they can view the NFT in Shopify:
Transferable
Single allows custodial NFTs to be transferred to a non-custodial wallet. This means that by default the NFT is accessible to the user by logging into their Shopify customer account.
However, if transferable, the user can move the NFT from their customer account into a wallet of their choice.
