Customer relationship management software behemoth Salesforce offers an NFT marketplace to drive user engagement across the customer platform.
You can get tickets for your next major conference on Salesforce’s new NFT marketplace, launching to the general public in October 2021. But, unlike the well-known marketplace, OpenSea, you won’t find cartoon images of bored primates or pixelated 8-bit characters. Here.
“The art should look great. But it really doesn’t matter,” says Adam Caplan, head of emerging technology at the CRM firm.
Non-fungible tokens are ownership records on the blockchain that have given OpenC significant trading volume such as Net Marketplace. While some say the boom is over, crypto exchange Coinbase recently launched its NFT marketplace to a weak reception. WeBits creator Gary Vaynerchuk believes that the crash naturally happened in line with other hyped products, but the long-term future for NFTs still looks promising.
Enhanced Security on NFT Cloud
Salesforce hopes its new marketplace will address issues ranging from phishing attacks to insider trading plaguing marketplaces like OpenC. There will be a more secure environment to make and sell NFTs. Salesforce customers, who are usually enterprises, can list their NFTs on their website, with Salesforce handling the back-end security, writing and authentication of smart contracts. The service will be available in the testing phase for some customers, followed by an official launch in October.
According to Caplan, customers using the NFT marketplace seek engagement with NFT buyers rather than appreciate the value of NFTs.
To address employees’ concerns that the new marketplace will fly in the face of Salesforce’s sustainability goals, Caplan said customers will use a more environmentally friendly blockchain and be able to purchase carbon offsets. NFT marketplace Rarible offers an alternative to mint (newly constructed) NFTs on the eco-friendly blockchain Tezos.
Regarding the spread of scams to the tune of more than $1 billion since early 2021, Caplan said assets and wallets suspected of involvement in fraud would have the potential to stifle.
The Purchase of TIME by the CEO of Salesforce An Early Exploration into NFTs
Reports introducing Salesforce’s new cloud-based NFT marketplace surfaced in February 2022. Since co-CEO Marc Benioff purchased Time magazine in 2018, the legacy publisher has engaged extensively with NFT in 2021 and 2022. In 2021, it launched the timepiece NXT collection with artwork. 40 artists. In March 2022, it released an entire magazine edition of NFTs featured on the cover of Ethereum co-founder Vitalik Buterin.
Benioff noted at the time that TIME was using OpenSea’s application programming interface (API) to help manage its NFT collection.
This new market isn’t the company’s first foray into Web 3.0. In 2019, Salesforce launched the Salesforce blockchain using Hyperledger Sawtooth.