Salesforce announced that it is launching a pilot of NFT Cloud. It is a new platform to help brands and businesses mint and sell NFT assets.
What is NFT?
Non-fungible means that something is unique and cannot be exchanged for another item. For example, the Mona Lisa is unique and it has its own unique properties. This makes the Mona Lisa non-fungible and cannot be exchanged for one another. At the other hand, fungible items can be exchanged for one another. For instance, one dollar equals to another one dollar and they can be exchanged. So, what is an NFT then? NFT stands for non-fungible token. They are tokens that live on a blockchain and represent ownership of unique items. NFTs are digital assets that represent digital or physical objects like art, music, event tickets, videos, and more. Complete Learn About Non-Fungible Tokens module on Trailhead to learn more about NFTs.
Salesforce NFT Cloud
“Salesforce is seeing interest from CMOs and CDOs who are asking for help entering web3, and we are enthusiastic about bringing new innovations, products and offerings to our customers in a way that allows them to build and maintain meaningful relationships with their customers,” Adam Caplan, SVP of Emerging Technology at Salesforce, told TechCrunch.
Salesforce’s goal with NFT Cloud is to make NFT selling more accessible. “NFT Cloud is all about helping our customers mint, manage and sell NFTs, and of course it’s all no code. So it’s super easy on our platform, abstracting all the complicated technology in this [new] web3 world,” Adam Caplan said.
NFT Cloud will let brands and businesses use Salesforce’s cloud-based tools to create and sell NFTs, engage online communities, and receive data from their offerings.
Mint and Sell NFTs on a Trusted Platform
During a sales kick off back in February, Salesforce told employees that the company is working on NFT Cloud. After this announcement, hundreds of employees protested this idea because of environmental concerns.
The creation process of many cryptocurrencies involves huge amounts of computing power with large energy costs and carbon footprints. However, Salesforce highlighted in its announcement that the platform doesn’t support proof-of-work blockchains.
They said that the new platform will use proof-of-stake blockchain technology. This almost removes the energy consumption from blockchain use. NFT Cloud will automatically calculate carbon emissions for blockchain options. Therefore, users will be able to track their carbon footprint right from the platform.
At the other hand, the platform will allow using smart contract templates to secure honest transactions and branded purchasing technology to avoid fraud.
Availability of NFT Cloud
Salesforce NFT Cloud is currently a pilot program available to limited customers and it will be generally available at a later date.