Shopify, a Canadian e-commerce giant, has allowed sellers to sell NFT through its e-commerce platform, creating new opportunities for online merchants.
On July 26 at Shopify opened a line featuring the NBA Chicago Bulls on the store, including digital artwork NBA championship rings, the first time the company has used NFT for its products. So fans no longer need to go through the NFT market, but instead can directly access the Chicago Bulls’ online store and use their credit cards to buy digital artworks.
The Chicago Bulls’ NFT products sold out in 90 seconds on the first day of sale, according to Kaz Nejatian, assistant director of store services at Shopify. Kaz Nejatian said:
“In the past, you could also buy NFTs by swiping cards, but to be honest, at present, people’s experience of buying NFTs outside of Shopify is not very good. This is why we decided to do this. Whether it is a merchant or a buyer, they should not sign up for cryptocurrency courses in order to buy digital art.”
Customers, especially those who don’t know how to use cryptocurrency, now have more choices to purchase NFT through Shopify.
Apparently Shopify has created channels to allow merchants to sell NFTs direct through their Shopify stores. According to Kaz Nejatian, Shopify supports multiple blockchains, so merchants can ultimately choose which blockchain to sell NFTs through based on their products and customer base. He said:
“In contrast, if merchants want to sell in a certain NFT market, they must choose the blockchain supported by that NFT market.”
NFT sales were handled by Flow Blockchain by the Chicago Bulls. The choice between Flow and Ethereum blockchain are available to Shopify merchants. As a result, Nejatian said there will be more blockchain options to choose from on the Shopify platform in the near future.
The Shopify platform will allow merchants to sell NFT, mainly driven by the needs of merchants, creators, and artists. Nejatian stated:
“Many creators have realized the value of selling NFTs, but we are removing friction points between buyers and sellers. Allow them to easily realize their own works, and further connect with the audience. We are opening up a new world where fans can feel a deeper connection with the brand. NFT has gradually become part of our online business.”
Note:This past May, eBay, the e-commerce giant, announced that its platform policy has been updated so customers will be able to purchase “non-homogeneous tokens” (NFT), becoming the first traditional e-commerce company to enter the NFT field.
