As cryptocurrency prices continue to fluctuate, Salesforce announces the creation of an NFT Cloud platform. The ferm pilot program offers companies the ability to drive customer engagement and manage NFTs from its CRM platform.
After tinkering with the subject and facing a sling from some employees, Salesforce is launching a closed pilot program for a service called NFT Cloud, which allows users to create and manage NFTs for brand engagement and marketing purposes. NFTs, or non-fungible tokens, are intended as a method capable of taking the fingerprint of a work of art, code or any other digitally stored element, using blockchain technology to create a unique copy of that element.
The idea is that, because this element is uniquely identifiable, it becomes “non-fungible” and can have particular value in the market, in the same way that a famous work of art has a value compared to a reproduction. Salesforce pointed out in its announcement that the NFT Cloud platform does not support proof-of-work blockchains. The creation of many cryptocurrencies relies on the use of enormous amounts of computing power, with correspondingly high energy costs and carbon emissions, and Salesforce is likely trying to avoid the criticism that many have leveled at the industry.
A responsible NFT platform?
The company says it will instead use proof-of-stake blockchain technology, which almost completely eliminates the energy consumption of using blockchain, and that NFT Cloud will automatically calculate carbon emissions for blockchain options, giving users the ability to monitor. your carbon footprint directly from the platform. The company also announced its intention to address another common problem in the cryptocurrency world: security. By using smart contract models to ensure valid transactions and branded buying technologies to protect against fraud, the company hopes to avoid the wave of hacks and fraud that has hit NFTs and cryptocurrencies in recent years.
This market has attracted a lot of interest from companies lately, but those looking to break into this technology face a number of obstacles. The complexities of owning assets in the digital domain are likely to be unknown to most organizations, creating additional security risks that businesses will need to manage. Centralized platforms for exchanging digital goods are likely to suffer from the same vulnerabilities as other e-commerce sites, and due to the nature of the blockchain, transactions are not easily reversible in the event of fraud. Furthermore, scams aimed at gaining access to NFTs and crypto wallets are rampant, and some users may not be aware of the need for thorough testing of enterprise-grade blockchain products. At the same time, the price of bitcoin, a major cryptocurrency, has dropped by more than 50% in the past seven months. Salesforce hasn’t announced a release date for the pilot program or details on wider availability.