Making it easier for merchants to sell NFTs
Shopify recently announced that they will start allowing merchants to sell NFTs on its platform directly to their customers.
The multinational company’s CEO Harvey Finkelstein said: “we are making it easier for our merchants to sell NFTs directly through their stores” before highlighting an upcoming NFT release from the Chicago Bulls basketball team.
Previously, merchants had to transact NFTs through third party marketplaces which allowed less security, customer relationship management and overall control of the sale.
“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, President of Shopify
Even though news around the NFT sector has been slowly cooling off, NFT sales still topped $2.5B in first half of 2021, highlighting that there is still interest in this nascent digital industry.
NFT adoption is rising
According to the white paper, SCMP wants to create a “standard for recording accounts of history and historical assets on the blockchain”.
There has also been a growth in the use cases for NFTs. For example, the Dallas Mavericks has revealed plans to start issuing NFT-based tickets for upcoming basketball games. This will add value to the tickets, while also allowing them to be traded, sold, and overall commodified with ease.
Asprey, a British jeweller is planning to release jewellery NFTs which will be sold as a digital physical pair. This means the buyer acquires both the object and the digital NFT representation of the object.
We are just seeing the rise of NFT adoption, and it is likely that many other use cases will emerge in the future.