Shopify Will Let Its Users Sell NFTs in Storefronts
The e-commerce platform is initially supporting an offering from the Chicago Bulls.
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Shopify has given some users the ability to sell NFTs in their storefronts, according to the president of the company.
Shopify President Introduces NFTs
Shopify is an e-commerce platform that allows users to create online storefronts. Traditionally, it has handled physical merchandise, but now it is moving into digital goods with cryptocollectibles or NFTs.
Shopify president Harley Finkelsten tweeted on July 26: “If you’ve spent one minute on the internet this year, you’ve seen a lot about NFTs [non-fungible tokens]. We are making it easier for our merchants to sell NFTs directly through their store.”
He added that before this feature was added, merchants had to sell NFTs through third-party marketplaces. The new feature, however, will give merchants more control over their relationship with customers in terms of “how and where they want to buy.”
Finkelstein noted that one of the first sellers to use the feature is the NBA team the Chicago Bulls. The team is issuing a series of collectibles; the next batch will be up for sale on July 28.
The feature is only available to select customers right now.
The Growth of Crypto e-Commerce
It remains to be seen whether these services will be able to overtake high-profile NFT marketplaces such as OpenSea and Rarible.
In addition to its decision to handle NFT sales, Shopify has historically supported cryptocurrencies. It accepts Bitcoin, Litecoin, and Ethereum, among other payment methods. Shopify is also a member of Facebook’s Diem Association.
Disclaimer: At the time of writing, this author held less than $75 of Bitcoin, Ethereum, and altcoins.