E-Commerce Giant Shopify Launches Support for NFTs, Partners With NBA’s Chicago Bulls

Online shopping platform Shopify says it is offering merchants a way to sell non-fungible tokens (NFTs) directly without using a third-party marketplace.

According to the e-commerce giant’s president Harley Finkelstein, their first partner in the new effort will be the NBA’s Chicago Bulls.

“If you’ve spent one 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 Chicago Bulls’ 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.”

The initial digital collectibles to be minted by Chicago Bulls for sale will be memorabilia from their six NBA championships during the 1991 through 1993 and 1996 through 1998 seasons. The sale will occur during the last six days of this month.

“For the first time ever, the Chicago Bulls are minting an officially licensed NFT collection for fans to own. The Bulls Legacy Collection, which highlights the team’s iconic six World Championship rings, features six unique token designs in three distinct tiers of rarity and will be available to purchase (while supplies last) July 26-31.”

Besides non-fungible tokens, Shopify CEO Tobi Lutke in April showed interest in integrating decentralized finance (DeFi) into the e-commerce platform. At the time, Lutke argued that as much as “Shopify is a product of pre-crypto times” it was “spiritually aligned with decentralizing opportunity.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

ADVERTISEMENT

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/archy13/BublikHaus

Source: https://dailyhodl.com/2021/07/28/e-commerce-giant-shopify-launches-support-for-nfts-partners-with-nbas-chicago-bulls/