Shopify Enters the NFT Scene to Allow Merchants to Sell Them Directly to Customers
Shopify president Harley Finkelstein has announced the launch of non-fungible tokens (NFTs) on its platform. The popular eCommerce site boasts of more than 1.7 million businesses worldwide, helping boost NFT adoption.
He further noted that before Shopify offered this service, its merchants would have had to give up their control and sell through a third-party marketplace.
“Once again we are putting the power back into the hands of merchants and meeting customers how and where they want to buy.”
The NBA's Chicago Bulls is its first merchant, which launched an NFT “Legacy Collection” this week that features the franchise’s six world championship rings.
Minted on blockchain in a limited supply of 567 NFTs, this collection is available to purchase from July 26-31 while the supply lasts. These are sold on a first-come-first-served basis.