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Non-fungible tokens (NFTs) have exploded in popularity this year as buyers flocked to the market to purchase digital art, videos, music, and even in-game items. Even big-name auction houses have flocked to the scene with the most expensive NFT artworks selling for millions of dollars.
Artists and content creators now have a new platform to sell their digital creations. Ottawa, Canada-based e-commerce firm announced that it is now allowing merchants on its platform to sell directly sell their NFTs to their customers, according to Coindesk.
On Monday, Shopify President Harvey Finkelstein announced that NFTs can now be directly sold on its online stores. “If you’ve spent 1 minute on the internet this year, you’ve seen a lot about NFTs,” he posted on Twitter. “At Shopify, we are making it easier for our merchants to sell NFTs directly through their stores, with one of the first being the Chicago Bulls.”
Before Shopify activated this new feature, Finkelstein explained that while the platform already supported NFT trading, merchants needed to sell NFTs through a third-party marketplace. However, this method forces them to lose control of the sale and prevents them from building deeper customer relationships.
“Before Shopify offered this capability, merchants would have to sell through a 3rd party marketplace aka less control of the sale and customer relationship,” the Shopify President added. “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 became one of the first Shopify merchants to offer NFTs on the platform. ON Monday, the popular NBA team launched an NFT “Legacy Collection,” which features the six world championship rings.
The company’s move to offer the direct NFT selling feature could potentially open up the wider adoption of non-fungible tokens. The platform is one of the largest e-commerce sites in the world with over 1.7 million merchants as its members.
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