Shopify is one of the largest e-commerce platforms in the world. Harley Finkelstein, CEO of Shopify, has been showing keen interest in the subject of cryptocurrencies for a long time. Many sellers set up an online storefront for reaching consumers who are available online.
To date, the shops on Shopify were reserved for physical commodities only. However, the e-commerce giant has recently announced that it will allow users to set up a storefront for NFT sales. A non-fungible token is a type of digital artwork that is essentially a media file. Due to the use of blockchain technology, it is not possible to copy or edit these files without the consent of the real owners. Therefore, NFTs have been getting a lot of attention among retail buyers.
E-Commerce Giant Made it Easier for Artists to Put their NFT Work on Sale
Finkelstein told media on the subject of new NFT shops that Shopify aims to make the sale of NFTs easier. He recently tweeted that any person who spends a minute of their time on the internet must be aware that NFTs have become the latest trend in all retail marketplaces. Before the option for direct NFT selling was available on Shopify, artists had to search for relatively new third-party websites to find buyers.
As a successful retail store, the NFT artwork on Shopify would get an unimaginable boost in buyer exposure. Finkelstein further added that the NBA team NFTs collectibles and Chicago Bulls counterpart are featured sales on the website. However, it is worth noting that the new NFT market storefronts will open for selected consumers for the time being.
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Shopify is not the first or only e-commerce website that has sensed the increasing demand for NFTs. eBay had also taken a similar step a few months ago. The popular online retail shopping website is planning to add collector’s items or NFTs for sale this year. In the same fashion, Alipay, which is a subsidiary of Alibaba express, has also ventured into the virtual asset industry.
Shopify itself has been showing persistent interest in blockchain technology on the whole. Retail consumers have the option to pay for select purchases with the help of Bitcoin, Litecoin, Ethereum, and other digital assets on Shopify. The upcoming Diem stablecoin by Facebook has also made a pact with the Canadian e-commerce service provider.