Nonfungible tokens have shot to popularity in the past year. Shopify Inc.’s move to facilitate sales might bring them even further into the mainstream.
NFTs have become popular in industries from sports memorabilia to fashion and art, where their ability to provide authentication and uniqueness is prized. Last week, Shopify started allowing merchants on its platform to sell NFTs directly, betting that there’s demand for an alternative to third-party crypto marketplaces. The company aims to win over merchants by giving them more control over the sale and customer relationship, President Harley Finkelstein said on Twitter last week.