E-commerce platform Shopify now supports NFT sales
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Answer E-commerce platform Shopify now supports NFT sales
One of the leading e-commerce platforms, Shopify, has added support for NFTs.
Which will allow store owners to sell NFT directly without relying on an external market.
The announcement of Shopify’s NFT sales support came directly from the company’s president, Harley Finkelstein, who Tweet about the news New via his personal account on Twitter today.
Harley said the first NFT to be officially shown on Shopify will be the show for the NBA’s Chicago Bulls, which was announced late last week.
Introducing the Bulls NFT Legacy Collection.
Six NBA titles.
Six championship rings.
Six chances to own the Bulls NFT Championship ring starting July 26.
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Get priority access and challenge reward details in pic.twitter.com/xHZFPC7OPv
– Chicago Bulls (@chicagobulls) July 22, 2021
NFT is a type of cryptocurrency that acts like a title deed to a digital object, enabling rare collectibles such as videos, artwork, photos, tweets, and interactive video game items.
“Dapper’s NBA Top Shot” has been one of NFT’s flagship projects to date, raising more than $700 million in total turnover since its launch in Fall 2020.
Every Top Shot moment is an NBA video highlight packed with animated emoticons and released in limited quantities.
The NFT market swelled near the start of the year and saw an estimated total trading volume of $1.5 billion in the first quarter of the year.
Momentum appears to slow in the second quarter, despite DappRadar reports that the NFT market eventually saw $2.5 billion in trading volume in the first half of the year.
Today, Harley said in a tweet:
Before Shopify offered this capability, merchants had to sell through a third-party external marketplace.
Once again, Shopify puts the power in the hands of merchants and we meet with customers how and where they want to buy.
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The “Chicago Bulls NFT” collection is inspired by the team’s six NBA victories from the 1990s, each spread across multiple levels of rarity.
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The first set, inspired by the team’s initial victory in the 1991 NBA Finals, went on sale today and sold out quickly.
Each NFT takes the form of a light animated video clip.
Bulls NFTs are minted on the Flow blockchain developed by Dapper Labs, which is also used in the NBA Top Shot platform.
A Shopify spokesperson said:
Today, merchants can choose between Flow and Ethereum, but soon merchants will have more options with other blockchains on Shopify.
Merchants can choose the best blockchain protocol that suits their products and customer base.
Read also:
The story of a couple who lost access to $5.8 million worth of Ethereum
The story of a 12-year-old who made over $160,000 in one day in NFT tokens
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