Salesforce Pilots Cloud-based NFT Service

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.

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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.

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