Salesforce Pilots Cloud-based NFT Service

Salesforce employees protested against the company’s plans to enter crypto earlier this year

article-image

Source: Shutterstock

share

key takeaways

  • Dubbed NFT Cloud, the software is designed to help companies make and manage NFTs
  • The announcement marks Salesforce’s entrance into the Web3 market

Cloud software company Salesforce launched a pilot program for its corporate clients to create and trade NFTs.

Launched during the Salesforce Connections Conference in Chicago on Wednesday, the first version of NFT Cloud is available in a closed pilot. It will be available to the public later this year.

This product is Salesforce’s first foray into blockchain technology and is part of the company’s Commerce Cloud suite, which enables customers to sell NFTs (non-fungible tokens) on the Salesforce Customer 360 Platform.

Loading Tweet..

The service targets consumer brands that want to offer their customers exclusive event access via NFTs, Adam Caplan, Salesforce’s senior vice president of emerging technology, told Bloomberg.

News of this service first surfaced in mid-February when around 400 Salesforce employees signed an internal petition raising concerns about the environmental impact and speculative nature of NFTs, Thomson Reuters Foundation News reported.

The company now touts its commitment to sustainability on its website. NFT Cloud will automatically calculate carbon emissions of blockchain options, support only proof-of-stake as opposed to proof-of-work blockchains, and make it easy for users to offset their emissions through carbon credits.

Salesforce is also collaborating with organizations such as the Crypto Climate Accord, an environmental initiative that seeks to eliminate carbon emissions from the crypto industry by 2030.

As for security, the company stated that the pilot will offer audited smart contract templates for sellers and buyers, as well as fraud prevention tools, such as the ability to pause assets and wallets.

In an effort to provide a more secure checkout experience, customers can host branded marketplaces on their own site while Salesforce handles the backend and authentication.

Cybersecurity, scams and fraud in crypto were concerns brought up by Salesforce employees in February. The Federal Trade Commission has reported more than $1 billion in losses in crypto-related scams since 2021.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg

Research

The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.

article-image

Partnering with EtherFi and Angle, the fully on-chain perp DEX features bespoke collateral

article-image

Sponsored

Gavin Wood introduced the next evolutionary step for the Polkadot network: the Join-Accumulate Machine, or JAM

article-image

The side events were the places to be at Consensus 2024, according to attendees

article-image

Also, who’s come out swinging in the spot ether ETF fee war — and who could undercut them

article-image

I know it is not in their nature, but US regulators could learn a lot by researching the digital asset frameworks that overseas regulators have already gotten right

article-image

Also, the ETF hype train can count out at least one member