on the crypto
Shopify now allows merchants to sell NFTs directly on the platform, and the Chicago Bulls NBA team has launched a “Legacy Collection” alongside this new feature.
There are already the first authoritative adhesions
The e-commerce multinational, Shopify, will allow merchants to sell NFTs, according to tweets from president Harley Finkelstein. Accompanying this historic moment is the launch of a "Legacy Collection" of NFT by the Chicago Bulls on the platform.
Finkelstein said Shopify would make it easier for merchants to sell NFTs directly. The platform is one of the leading e-commerce portals in the world, hence the potential of market acquisition It is huge. Shopify reportedly serves over 1,7 million businesses around the world.
With Shopify's support, merchants can avoid selling through a third-party service, putting the transaction more in the hands of the customer and seller. This isn't the first time the ecommerce platform has dabbled in the cryptocurrency space.
The interest in cryptocurrencies is real
In May 2020, Shopify added support for several cryptocurrencies through a partnership with CoinPayments. It supports over 1.500 cryptocurrencies, and CoinPayments CEO John Butcher said the combination was unstoppable. While third-party support for crypto payments exists on several platforms, Shopify's approval was something of a historic moment.
The Chicago Bull NFTs were created using Dapper Labs' Flow blockchain, according to the official page. The NFTs highlight the six championship rings by offering six unique token designs in A total of 567 NFTs are available. The rarity of the digital artwork will only be revealed after the NFT opens.
NFTs will continue to show growth, it seems
Shopify is the latest big name entity to join the NFT space, following the likes of eBay. These particular types of assets show no signs of abating in the acquisition of new stakeholders. The branding and merchandising potential has proved lucrative, with even musicians releasing songs like NFT.
The sports industry has great relevance to NFTs, as teams can release special edition assets that highlight key moments or cards that represent their players. Platforms like Chilliz have already made progress in this area, with teams like Barcelona and Arsenal collaborating.
While there has been some decrease in interest in the cryptocurrency market following the bull run, NFTs appear to continue to hold public influence. It's a much easier space to start working with than DeFi, and there's a similar charm to that of trading cards.
