Online store platform Shopify will enable brands to sell their licensed non-fungible tokens (NFTs) directly through their own storefronts. NBA team Chicago Bulls will be the first to put the feature to use and has launched its own NFT online store.
NFTs are frequently not sold directly through a brands’ website but instead through a third-party marketplace. Shopify’s solution enables brands to create their own storefronts for NFTs.
Third-party marketplaces provide less control to brands over the sales process and require them to direct consumers to another platform. Once brands decide to commercialize NFTs on one marketplace, they may have less control over the layout, advertising, and brand position, and it might not align with the company’s values.
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