Tomorrow Investor

Salesforce Hops Aboard NFT Bandwagon


Cloud-based software development company Salesforce has joined the emergent non-fungible tokens (NFT) sector with the impending launch of NFT Cloud, its own online marketplace for crypto assets.

According to company executives, it’s a move borne from numerous customer inquiries as to whether or not Salesforce had any plans to cash in on the nascent crypto sector. Adam Caplan, Salesforce’s senior vice-president for emerging technologies, said it is the company’s way of addressing requests from company CMOs and CDOs for assistance regarding an entry into web3. Likewise, the move is in keeping with the company’s impetus to offer innovative new products and technological solutions to its customers.

Why and Why Now?

Making NFT selling more accessible is one of the primary goals for NFT Cloud. In doing so, Salesforce aims to assist customers in creating, managing, and selling NFTs. No code will be involved, and it pretty much simplifies the seemingly complicated technology of web3. That said, NFT Cloud is not expected to weigh heavily on the Salesforce platform.

For his part, Caplan also sees NFTs veering into sectors apart from art and collectibles. Indeed, among the verticals he sees cashing in on the platform are retail, fashion, consumer goods, and premium media. 

Caplan further noted that the current NFT scene is already populated by numerous communities that are driving up engagement across platforms. So, in a way, the new platform will give Salesforce a way by which to market something of potential value to different customer brackets.

What’s In It for Users?

For Caplan, NFT Cloud is all about utility both on and offline. In the NFT Cloud setup, NFT holders receive benefits that they can use online or in real life.

For example, users can set the system up to receive new products from retail partners in exchange for owning certain NFTs. 

Online, this could translate as getting perks like extra quest objects or enhanced player capabilities in online games exclusive to those who have signed up for the platform.

Doing NFTs in a More Sustainable Manner

The NFT sector has come under fire due to the ethical and environmental effects resulting from the sale of crypto assets. 

However, Salesforce assures the public that its platform will help the industry find ways to use the technology behind NFTs more sustainably and ethically.

But it may take a while before the public can try NFT Cloud for themselves. The platform is currently in closed pilot, and its developer has yet to disclose when it will be launched for general use.

Add Calibre Mining to your Watchlist Today!