NBA team Chicago Bulls to launch NFT series on Shopify
Chicago Bulls have launched NFTs depicting six championship wins from the 1990s via leading e-commerce platform Shopify.
Harley Finklestein, Shopify president, announced on Twitter that the Chicago Bulls franchise is one Shopify's first partners to launch an NFT storefront on the platform.
Shopify provides website-based storefronts and payments infrastructure and recently integrated Sweet’s NFT marketplace in May, allowing its customers to issue and sell nonfungible tokens directly through the popular e-commerce interface. Sweet supports NFTs issued via Ethereum’s ERC-721 standard, Simple Ledger Protocol’s SLP token standard, and Dapper Labs’ Flow blockchain.
The Chicago Bulls’ NFTs were minted on Flow, which also hosts the officially licensed NBA Topshot tokenized highlight collectibles.
The NFT series dubbed “Bulls Legacy Collection” will be released over six drops, with each token celebrating the team’s six iconic championship wins between 1991 and 1998. The first NFT was launched on July 26 and has already sold out. The remaining four NFTs are scheduled for launch over the next few days.
Despite the NFT sector recently cooling off, NFT sales surpassed $2.5 billion for the first half of 2021. On July 21, popular NFT marketplace OpenSea had closed a $100 million Series B funding round led by venture capital firm Andreessen Horowitz at a valuation of $1.5 billion.