Highlights:
- Salesforce Inc. has released a restricted release of its digital collectibles platform for Web3 branded nonfungible tokens, making decentralized technologies and loyalty programs easier for organizations.
- Salesforce Web3 puts the power of blockchain technology in the hands of enterprises, allowing them to create, manage, and deploy nonfungible tokens in a secure, scalable, and sustainable manner.
Salesforce Inc. has announced a restricted release of its digital collectibles platform for Web3 branded nonfungible tokens, allowing companies to embrace decentralized technologies and develop loyalty programs more simply.
Salesforce Web3 puts the power of blockchain technology in the hands of enterprises, allowing them to create, manage, and deploy nonfungible tokens in a secure, scalable, and sustainable manner. It also integrates these new digital assets with the company’s customer relationship management system, allowing their gathering and use to be recorded and correlated with sales.
Nonfungible tokens, or NFTs, are a digital collectible and an emerging industry in which many multinational companies are intrigued yet cautious due to their usability, potential security issues, and sustainability challenges.
Adam Caplan, general manager of Web3 at Salesforce, highlighted in an interview with a leading media house that the debut of NFT Management – formerly known as NFT Cloud – has enabled businesses to develop and manage their digital collectibles using Salesforce. In June, the company piloted NFT Cloud with select organizations to provide them with a “360-degree perspective” of the physical and digital client experience.
Adam Caplan stated, “When NFTs just exploded a couple of years ago, now we just had a ton of interest from [chief marketing officers] and customers just asking us how to leverage this technology. They thought there was something interesting here, but they were nervous from a brand perspective, from a reputation perspective, from a security and trust perspective, and from a sustainability perspective.”
NFT Management was designed with consumer security and morality in mind to address this. Digital collectibles coined and maintained in Salesforce Web3 are audited and protected, and the business has engaged its Office of the Ethical and Humane Use of Technology and Web3 Advisory board to address ethical concerns for value-driven Web3 initiatives. Also, the firm will exclusively utilize energy-efficient proof-of-stake blockchains, which, according to the company, emit 99% fewer emissions than proof-of-work blockchains.
Since the initial introduction of the pilot program a year ago, the platform has logged more than 275,000 transactions for companies, including Crown Royal, Mattel, and Scotch and amp; Soda, all of which use it for developing and securely distributing digital collectibles.
With NFT Management, Salesforce is releasing Web3 Connect, a new application programming interface connection that enables businesses to develop tailored experiences on their websites and applications more quickly, allowing them to provide NFTs and monitor them through Salesforce.
Mattel, Inc. utilized this by developing digital collectibles with Salesforce and distributing digital collectible NFTs in packs. Because to the fact that Mattel’s Hot Wheels toys have a large collecting community, these items were offered in digital packs containing many vehicles and varying rarities of NFTs. Each pack may include a digital collectible automobile with a high rarity that victors could exchange for a die-cast copy.
Sven Gerjets, executive vice president and chief technology officer at Mattel, said, “Salesforce Web3 enhances our NFT collections to help us connect with customers and bring our Web2 and Web3 systems together. Web3 Connect is powering invaluable insights into our audience and seamlessly bridging Web3 channels with the rest of our customer experience.”
And now that Mattel has acquired all of this information from its consumers purchasing these collector packs, entering their information, redeeming digital cars for actual cars, and more, all of this information returns to Salesforce and can be utilized for other opportunities.
For instance, the ownership of a digital collectible could unlock discounts in a store or activate digital experiences or VIP rooms on a website that are only accessible to those who own that digital collectible – in the same way, that certain premium NFT Hot Wheels could be exchanged for the physical car.
Caplan stated that the program’s wide availability for businesses interested in building and releasing their own NFT digital collectibles is currently restricted. This allows Salesforce to teach new organizations and ensure they can use the latest technology.
