Shopify Will Let Merchants Sell NFTs

Shopify will allow its merchants to sell non-fungible tokens (NFTs), the head of the eCommerce platform announced on Monday (July 26).

“If you’ve spent one minute on the internet this year, you’ve seen a lot about NFTs,” company President Harley Finkelstein said on Twitter. “[At] Shopify, we are making it easier for our merchants to sell NFTs directly through their stores, with one of the first being the ChicagoBullsNFT store.”

If you’ve spent 1 minute on the internet this year, you’ve seen a lot about NFTs. @Shopify we are making it easier for our merchants to sell NFTs directly through their stores, with one of the first being the @ChicagoBulls NFT store. https://t.co/Qv2wKO7RCS

— Harley Finkelstein (@harleyf) July 26, 2021

The sale in question kicks off Wednesday (July 28), with the Bulls selling NFTs commemorating the team’s world championship rings. The sale features six unique token designs, available to purchase until July 31 or as long as supplies last.

“Before Shopify offered this capability, merchants would have to sell through a 3rd-party marketplace aka less control of the sale and customer relationship,” Finkelstein tweeted. “Once again, we are putting the power back into the hands of merchants and meeting customers how and where they want to buy.”

Before Shopify offered this capability, merchants would have to sell through a 3rd party marketplace aka less control of the sale and customer relationship. Once again we are putting the power back into the hands of merchants and meeting customers how and where they want to buy.

— Harley Finkelstein (@harleyf) July 26, 2021

Earlier this year, the eCommerce platform said it was expanding its suite of services, which include Shopify Payments, Shopify Shipping, Shopify Capital and Shopify Fulfillment.

“2020 catapulted commerce into a period of incredibly rapid change, presenting Shopify with unprecedented opportunities in 2021 to accelerate innovation,” the company said in March, noting its plans to aggressively reinvest in the business while warning that full-year 2021 adjusted operating income will likely be below the level the platform reached in 2020.

Shopify’s announcement comes a few months after the FinTech Circle launched what they billed as a comprehensive payment solution for NFT platforms and merchants, which would let those stakeholders take credit card and crypto payments. Circle said at the time that allowing this range of payments can expand the adoption and use of NFTs amid what the FinTech called the “marriage of traditional payment rails and leading digital dollar stablecoin USD Coin.”