Shopify integrates support for NFTs to revolutionize e-commerce by giving its thousands of merchants the opportunity to trade these tokens from their own stores.
Canadian e-commerce company Shopify, one of the largest in the sector, is integrating support for non-fungible tokens o NFT to innovate in online commerce.
Harley Finkelstein, president of Shopify, said via Twitter that NFTs have been revolutionizing different markets in the last year, so the company opened the doors to this opportunity, allowing its thousands of merchants and entrepreneurs the possibility of trading NFTs through their virtual stores within the Shopify platform.
The company's goal is to facilitate access to this innovation by offering a user-friendly and easy-to-use platform that guarantees control to merchants and entrepreneurs. In his message, Finkelstein also highlighted that Shopify users have been showing interest in the NFT market for some time, but that they had to use third-party platforms to trade and negotiate with these digital assets.
Now, thanks to the Shopify integration, merchants and entrepreneurs around the world can sell NFT tokens directly to their customers from the platform.
It may interest you: PleasrDAO, Sygnum and Axie Infinity and the different use cases for NFTs
Shopify, over 1,7 million active businesses
On Shopify, merchants can create their own professionally designed online stores to sell their products and services anywhere. As of April, the digital platform had more than 1,7 million active institutional and business customers trading through Shopify, although the number of registered merchants and entrepreneurs in general exceeded 3,6 million active ones. Likewise, for 2020, Shopify generated a trade volume of more than 307.000 billion dollars, according to data presented at the report economic impact of the platform published this year.
Shopify is a company with enormous growth potential that can make a big impact in the world of NFTs. Crypto collectibles based on blockchain have become extremely popular in 2021, reaching figures never imagined the previous year. Thus, the opportunity that this platform is offering can open the doors to a much broader adoption of NFTs worldwide.
Chicago Bulls exhausted in seconds
Shopify debuted support for NFTs with the launch of NBA Chicago Bulls NFTs. In a releaseShopify reported that the first batch of limited-edition Chicago Bulls NFTs were available on the platform as of Monday. However, Bulls senior product manager Matt Moreno reported that the non-fungible tokens sold out in just 90 seconds.
The Chicago Bulls NFT collection features 6 rings representing the 6 NBA championships won by the team in 1990.
For now, the NFT functionality is available to a select few merchants, though it will open up the opportunity to trade these tokens to everyone in the future, Shopify said.
The eCommerce platform is following in the footsteps of DraftKings and other platforms that have entered the crypto space.
eBay, one of the world’s largest online auction and trading marketplaces, is also exploring the opportunities that the crypto market can offer to optimize its business. In May, eBay CEO Jamie Iannone reported that the platform was considering offering support to allow the buying and selling of NFT tokens officially.
Continue reading: SCMP launches NFT standard and converts its historical moments into non-fungible tokens
