Shopify President Harley Finkelstein said Monday his company is now allowing merchants on its platform to sell non-fungible tokens (NFT) directly to customers.
In his tweets making the announcement, Finkelstein noted that before Shopify’s move, its merchants would have to sell NFTs through a third-party marketplace, forcing them to relinquish control of the sale and the 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,” Finkelstein said.
One of the first Shopify merchants to offer NFTs will be the National Basketball Association's Chicago Bulls, which launched an NFT “Legacy Collection” on Monday featuring the franchise’s six world championship rings.
Shopify powers the e-commerce sites of over 1.7 million businesses around the world. The company's decision therefore potentially opens NFTs to much wider adoption.
UPDATE (July 28 020:30 UTC): Corrects spelling of Shopify president's first name.