As cryptocurrency prices continue to fluctuate, Salesforce announces the establishment of an NFT Cloud platform. The ferm pilot program offers businesses the ability to pilot customer engagement and manage NFTs from its CRM platform.
After fumbling on the subject and facing a slingshot from some employees, Salesforce is launching a closed pilot program for a service called NFT Cloud, allowing users to create and manage NFTs for brand engagement and marketing purposes. NFTs, or non-fungible tokens, are understood as a method capable of taking the fingerprint of a work of art, code or any other element stored digitally, using blockchain technology to create a unique copy of this element.
The idea is that, since this element is uniquely identifiable, it becomes “non-fungible” and can have a particular value in the market, in the same way that a famous work of art has a value than a reproduction. doesn’t. Salesforce pointed out in its announcement that the NFT Cloud platform does not support proof-of-work type blockchains. The creation of many cryptocurrencies relies on the use of huge amounts of computing power, with commensurately high energy costs and carbon footprints, and Salesforce is likely seeking to avoid the criticism many have leveled at the industry. cryptocurrencies.
A responsible NFT platform?
The company says it will instead use blockchain proof-of-stake technology, which almost entirely eliminates the power consumption of using blockchain, and that the 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 also announced its intention to tackle another common issue in the crypto world: security. By using smart contract models to ensure valid transactions and branded shopping technology to protect against fraud, the company hopes to stave off the wave of hacks and fraud that has hit NFTs and cryptocurrencies over the past of recent years.
This market has attracted a lot of interest from companies lately, but those looking to get into this technology face a number of hurdles. The complexities of asset ownership 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. Additionally, scams aimed at gaining access to NFT and crypto wallets are rampant, and some users may not be aware of the need for extensive testing of enterprise-grade blockchain products. At the same time, the price of bitcoin, one of the major cryptocurrencies, has fallen by more than 50% in the past seven months. Salesforce hasn’t announced a date for the release of the pilot program, or details on wider availability.
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