Salesforce Launches Cloud-based NFT Service for Businesses


November 6, 2023


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Salesforce has developed a trial platform to produce and trade NFTs. The first version of NFT Cloud was released in a limited pilot on Wednesday at the Salesforce Connections conference in Chicago. Later this year, it will be made available to the whole public.

Salesforce's initial entry into blockchain technology is this product, which is part of the Commerce Cloud suite and allows customers to sell non-fungible tokens (NFTs) on the Salesforce Customer 360 Platform.

Adam Caplan, Salesforce's senior vice president of emerging technology, disclosed the service is targeted at consumer brands who want to provide their customers with special event access via NFTs.

According to Thomson Reuters Foundation News, news of this service first appeared in mid-February when roughly 400 Salesforce employees signed an internal petition citing concerns about the environmental impact and speculative nature of NFTs.

On its website, the corporation now promotes its dedication to sustainability. NFT Cloud will compute the carbon emissions of blockchain alternatives automatically, support only proof-of-stake blockchains rather than proof-of-work blockchains, and make it simple for users to offset their emissions with carbon credits.

Salesforce is also cooperating with organizations like the Crypto Climate Accord, which aims to eradicate carbon emissions from the cryptocurrency industry by the next decade.

In terms of security, the company noted that the pilot will provide sellers and purchasers with validated smart contract templates, as well as fraud prevention measures including the ability to stop assets and wallets.

Customers can host branded marketplaces on their own site while Salesforce handles the backend and authentication in order to deliver a more secure checkout experience.

Salesforce employees had earlier raised worries about cybersecurity, scams, and cryptocurrency fraud in February. Since 2021, the Federal Trade Commission has documented over $1 billion in losses due to crypto-related frauds.