Badges
Story 2.0 feature
Add custom badges using metafields in Story 2:

Each product can have a custom and unique badge when using metafields.
How to setup
TLDR;
The most important part of setting up this metafield is use the namespace and key of:
theme.badge
See example here:

Detailed version
Start in your Shopify Admin -> Settings and choose Metafields from the left panel and then click on Products:

Choose the Add definition button:

Next, add a Name for the metafield, any name is fine. The namespace and key must be modified. Be sure to change from the default entry:

Change to:
theme.badge
Example:

Add a description and choose Select content type.
Choose Text and then Single line text:

Single line text:

Save your new product metafield. Verify that the metafield is called:
product.metafields.theme.badge

Product setup
The final step is to edit any of your products in the Shopify Admin -> Products and update the new badge metafield. Scroll to the bottom of the product setup page:

Update the Product badge metafield with the custom badge name:

Save your product and preview on any product grid view like Collection pages:

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