The Chicago Bulls' product is the first to be supported by the e-commerce platform. According to Shopify's president, certain users have been given the opportunity to sell NFTs in their storefronts.
NFTs are introduced by Shopify's president.
Shopify is an online storefront platform that allows users to construct their own online stores. It has traditionally dealt in tangible products, but it is now branching out into digital commodities with cryptocollectibles or NFTs.
“If you've spent one minute on the internet this year, you've read a lot about NFTs [non-fungible tokens],” Shopify CEO Harley Finkelsten tweeted on July 26. We're making it easier for our merchants to sell NFTs directly from their websites.”
Merchants had to sell NFTs through third-party marketplaces until this option was implemented, he said. However, the new functionality will provide retailers more control over their client relationships in terms of "how and where they want to buy."
The NBA franchise the Chicago Bulls is one of the first sellers to use the function, according to Finkelstein. The team is releasing a series of collectibles, the most recent of which will be available on July 28. Currently, the feature is only provided to a limited number of customers.
Crypto e-Expansion Commerce's
eBay said earlier this year that it would be adding cryptocollectibles to its online retail platform. According to recent rumors, Alipay, a Chinese payment business, is now selling NFTs. It's unclear whether these services will be able to surpass well-known NFT marketplaces like OpenSea and Rarible.
Shopify has always supported cryptocurrencies, in addition to its choice to handle NFT sales. It allows a variety of payment options, including Bitcoin, Litecoin, and Ethereum. Shopify is also a member of the Diem Association on Facebook.
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