Shopify NFTs are here! Shopify has made it possible for eligible sellers to sell non-fungible tokens via its platform, which opens up a whole new world for e-commerce merchants. You could buy NFTs on credit cards before, but the NFT buying experience outside Shopify isn’t awesome for anyone right now. Merchants and buyers shouldn’t have to take a course in crypto to buy things they care about.
The Value of Shopify NFTs
Many creators are already seeing the value of selling NFTs to their fans, but shopify is removing some of the friction for sellers and buyers, allowing them to better monetize their work and their connection to their audience. It’s also about giving consumers more options to buy NFTs especially those who are not well-versed in cryptocurrency. By making it possible for merchants to sell NFTs directly through their Shopify storefronts, the company says it’s creating access for merchants who want to sell NFTs. They will eventually be able to choose which blockchain they’d like to sell on based on their products and customer base since Shopify supports multiple blockchains. By contrast, if merchants want to sell on an NFT marketplace, they need to choose based on the blockchain supported by that marketplace.
The Benefits of NFTs on Shopify
For example, The Chicago Bulls selected the Flow blockchain for their NFTs, But overall, Shopify merchants today can choose from Flow and Ethereum, but soon will have more choice with other blockchains, according to the company’s spokesperson. The move was also driven by demand from merchants asking for the ability to sell NFTs and the desire to give creators and artists another forum to grow professionally. opening up a world where their fans feel a meaningful connection to their brands, and where NFTs just increasingly become part of how we buy and sell online.
The NBA’s Chicago Bulls opened its first ever NFTs on Monday
This included digital artwork of NBA championship rings. They also launched an online shop on Shopify. Bulls fans no longer have to visit an NFT marketplace to purchase digital art. Instead, they can buy it directly from the team’s online shop using a credit card or debit card. According to Kaz Nejatian (VP of merchant services at Shopify), the NBA team sold out the NFTs in just 90 seconds on their first day. Incredible!
He said that while you can purchase NFTs using credit cards, the experience of buying them outside Shopify is not ideal. “That’s why we decided to do this work. Merchants and buyers shouldn’t have to take a course in crypto to buy things they care about.”
He went on to convey buyers and merchants shouldn’t need to learn crypto in order to purchase the things they are passionate about. It also gives consumers more options to purchase Shopify NFTs, especially for those not familiar with cryptocurrency.
The company is making it easier for merchants to sell NFTs through Shopify’s storefronts. Nejatian stated that they will be able to select the blockchain they want to sell on based upon their products and customer base, as Shopify supports multiple blockchains. He said that merchants who want to sell on NFT marketplaces should choose to use the blockchain support by that marketplace.
Merchants were also interested in Shopify NFTs, and they wanted to provide creators and artists with another platform to grow.
He said that many creators already see the value in selling NFTs to their followers, but they are removing some of their friction for their buyers and themselves, which will allow them to better monetize and connect with their audience. Shopify is creating a world where fans feel a connection to their brands and NFTs are becoming an increasingly important part of online buying and selling.
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