Who among you does not know Shopify, the most famous marketplace, allowing anyone who feels like a seller to get started in e-commerce? What some of you may be less familiar with are NFTs.
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One NFT, Where non-fongible token, differs from cryptocurrencies that you probably already know, the most famous being of course Bitcoin (or BTC for close friends). But what is the difference between fungibility and non-fungibility?
Let’s take a very simple example, if I have a € 5 bill and you too, we can exchange our tickets, these are inherently identical. This is because they have the same value and even if mine is slightly torn, it would still be a € 5 note.
A fungible asset is therefore not unique and is interchangeable. Conversely, a non-fungible asset is unique and has its own value.
If I draw with my poor talents a drawing and offer it to a museum in exchange for one of their pieces using the argument ” both are works of art and are therefore exchangeable », I think without going too far that it will be a failure. Why ? Because the two works are unique and each have their own value: they are therefore non-fungible. However, in order not to let myself be overwhelmed by this failure, I can choose to digitize my drawing and resell it online as a cryptomonnaie : an NFT. Now that you see a bit more of what an NFT is, let’s get back to our shopping.
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
Shopify launches into NFTs
Shopify, aware of the potential of NFTs, announced via a tweet from Harvey Finkelstein, president of the platform, that customers will soon be able to sell their NFTs directly on their online shops created thanks to Shopify.
And the first NFT shop to see the light of day is none other than that of the famous NBA team of Chicago Bulls !
On this one, basketball fans could purchase any of the six NFT models from the collection. Bulls Legacy Collection which represented the rings of NBA champions!
That a platform as popular as Shopify accepts NFTs shows how far la blockchain and cryptocurrencies in recent years. Adoption is underway!
This article is the first of the collaboration between Futura and CoinTribune, leading European media on blockchain and cryptocurrencies. If you want to know more about NFTs, have a lookeye our Specialized Tribune is essential. Good reading.
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