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Shopify: online shops can now sell NFTs
Shopify: online shops can now sell NFTs
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Shopify: online shops can now sell NFTs

By Stefania Stimolo - 27 Jul 2021

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Shopify now allows the sale of Non-Fungible Tokens to all merchants in its online shops. Among the first e-commerce companies to offer NFTs is the NBA Chicago Bulls

This was announced by Harvey Finkelstein, President of Shopify, in a tweet that made the deal official.

https://twitter.com/harleyf/status/1419706364830666754

“If you’ve spent 1 minute on the internet this year, you’ve seen a lot about NFTs. At Shopify we are making it easier for our merchants to sell NFTs directly through their stores, with one of the first being the ChicagoBulls NFT store.

Before Shopify offered this capability, merchants would have to sell through a 3rd party marketplace aka less control of the sale and customer relationship. Once again we are putting the power back into the hands of merchants and meeting customers how and where they want to buy”.

Finkelstein points out to his loyal customers that there is no longer a need to delegate to third parties this type of sale, which has exploded this year. In fact, by already having a location on Shopify and a relationship with their customers, merchants will now be able to sell NFTs as a “normal ecommerce product.”

 

New NFT marketplaces can be created on Shopify

The NFT mania has now also captivated one of the largest online shopping hubs in the world. In fact, Shopify powers the e-commerce sites of more than 1.7 million companies globally.

This decision by the company therefore potentially opens up NFTs to much wider adoption than traditional dedicated marketplaces. 

Among the first ecommerce companies to jump on the bandwagon is the NBA Chicago Bulls, who just yesterday launched the NFT “Legacy Collection”:

https://twitter.com/chicagobulls/status/1418232029230026755

“Introducing the Bulls NFT Legacy Collection. Six NBA Titles. Six Championship rings. Six opportunities to own a Bulls NFT Championship ring starting on July 26th. Get priority access and challenge reward details at http://nft.bulls.com“.

The NFT mania continues to grow in popularity

Shopify joins a number of digital venues where it is possible to buy or sell NFTs, crypto assets that have become increasingly popular with both digital content creators and blockchain enthusiasts.

In fact, recently we have seen the launch of NFTs such as the 500,000-image digital artwork “My Life” by Italian artist Andrea Speziali, or even the NFT signed by Pope Francis, in collaboration with other selected artists, the proceeds of which will be devoted to the Pope’s global charity. 

Explosive growth continues to cover more and more fields of application, involving art, music, gaming, luxury, charity and much more.

This extension of the still-possible industry, based on a blockchain and DeFi world, led TerraBitcoin CEO Paolo Barrai to define NFTs as a “new version of digital barter” at an event in Switzerland last month. 

Stefania Stimolo
Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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