Salesforce, the world’s leading cloud-based CRM provider, is planning to launch its NFT product called the NFT Cloud as the company sees a huge opportunity to bring the technology to enterprise software.
NFTs (non-fungible tokens), derived from the same blockchain that powers cryptocurrencies, are unique digital assets, like digital art that can be bought and sold.
Salesforce CEO Mark Benioff and company co-CEO Bret Taylor discussed strategy at a sales kickoff event on Wednesday. They shared their company vision for an NFT cloud service that allows artists to create and launch content on the NFT marketplace.
NFTs issued via Salesforce’s NFT cloud platform could be released to marketplaces such as OpenSea. The CRM giant could integrate the tool into its ecosystem, where all the transactions can be managed. A marketplace owned by Salesforce would likely reduce the dependency on OpenSea.
Salesforce, a pioneer in cloud-based software, has been trying to integrate cutting-edge technology into its business for the past few years, including artificial intelligence and social networking, with the launch of Chatter in 2010.
And recently, the company has launched its streaming service, Salesforce+, amid a wave of new streaming services from media companies, including Discovery and Paramount.
It’s also not Benioff’s first entry into the NFT. Time Magazine, owned by Benioff and his wife Lynn Benioff, launched its NFT collection in September and introduced TIMEPieces, digital collectibles that give owners access to magazine content and events.
Mathew Sweezey, Director of Market Strategy at Salesforce, said: “Leading brands will search for utility through NFTs. Organizations will find NFTs more appealing once they move out of the novelty phase.”
He wrote: To reach their full potential, brands must start creating value through tokens in a blog post. He also predicted that 2022 would be a big year for NFTs, and he also called Time’s project a “great example.”
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