As cryptocurrency prices continue to fluctuate, Salesforce announces the establishment of the NFT Cloud platform. The ferm pilot program offers companies the ability to pilot customer engagement and manage NFTs from their CRM platform.
After messing around with this topic and facing the slur of some employees, Salesforce is launching a closed-ended service program called NFT Cloud, enabling users to create and manage NFTs for brand engagement and marketing purposes. NFTs, or non-replaceable tokens, are understood as a method that can take the fingerprint of a work of art, code, or any other element stored in digital form, using blockchain technology to create a unique copy of that element.
The idea is that, since this element is uniquely recognizable, it becomes “irreplaceable” and may have some value in the marketplace, in the same way that a famous work of art has value rather than reproduction. In its announcement, Salesforce pointed out that the NFT Cloud platform does not support proof-of-work blockchains. The creation of many cryptocurrencies relies on the use of huge amounts of computing power, with relatively high energy costs and carbon footprints, and Salesforce is probably trying to avoid the criticism that many have directed at the cryptocurrency industry.
Responsible NFT platform?
The company says it will instead use blockchain proof-of-stake technology, which almost completely eliminates energy consumption by using blockchain, and that NFT Cloud will automatically calculate carbon emissions for options. blockchain, giving users the ability to track their carbon footprint directly from the platform. The firm has also announced its intention to address another common problem in the crypto world: security. Using smart contract models to secure valid transactions and branded buying technology to protect against fraud, the company hopes to prevent a wave of hacks and fraud that have hit NFTs and cryptocurrencies in recent years.
This market has attracted a lot of interest from companies lately, but those who want to enter this technology face a number of obstacles. The complexity of digital property ownership is likely to be unknown to most organizations, creating additional security risks that companies will need to manage. Centralized digital exchange platforms are likely to suffer from the same vulnerabilities as other e-commerce sites and, due to the nature of the blockchain, transactions cannot be easily reversed in the event of fraud. In addition, scams aimed at gaining access to NFT and crypto wallets are widespread, and some users may not be aware of the need for extensive testing of business-class blockchain products. At the same time, the price of bitcoin, one of the main cryptocurrencies, has fallen by more than 50% in the last seven months. Salesforce has not announced a release date for the pilot program, nor details about wider availability.