Chicago Bulls partner with Shopify to launch NFT series

Leading NBA basketball team the Chicago Bulls are to launch an NFT drop through the e-commerce platform Shopify.

Sweet, an enterprise NFT solutions provider, recently integrated its NFT distribution platform into the Shopify marketplace, empowering brands, shop owners, and IP holders to sell NFTs through existing online store-fronts.

Shopify integrated Sweet’s NFT marketplace in May, allowing its customers to issue and sell non-fungible tokens directly through its platform. Sweet supports NFTs issued via Ethereum’s ERC-721 standard, Simple Ledger Protocol’s SLP token standard, and Dapper Labs’ Flow blockchain.

Shopify is a well-known commercial company that provides website-based storefronts and payments infrastructure. Its president, Harley Finklestein, revealed they would be doing the NFT drop on Twitter…

The Chicago Bulls’ NFTs were created on Flow – blockchain technology designed exclusively for digital assets and games. It also hosts the officially licensed NBA Topshot tokenised highlight collectibles.

The “Bulls Legacy Collection” will be released through six drops, and each token will praise the team’s six iconic championship wins between 1991 and 1998.

The first NFT was launched on July 26 and sold out in a matter of minutes. The second token will be launched later today (July 27). The rest are scheduled for launch during the next four days.

However, the team stated that there will be additional possibilities for collectors to showcase their digital assets and earn prizes.

Despite a recent slow down in the NFT sector, the latest data shows that sales of NFTs exceeded $2.5 billion in the first half of 2021.