Salesforce Launches Experimental NFT Platform

Cloud software giant Salesforce is trying to enter the NFT space by just unveiling NFT Cloud, a platform that makes it easy for brands and businesses to use NFT.

The NFT Cloud is touted by Salesforce as a stepping stone into the early stages of NFT/metaverse, allowing companies to tap into Salesforce’s cloud-based software engine to create and sell NFTs, engage online communities, and get data from their services.

Salesforce NFT Cloud is currently in beta for a limited number of customers, but the app will be made widely available in October of this year. However, the company’s website does not reveal which specific blockchain NFT Cloud will support in the future.

The company only describes that it will act in accordance with its commitment to protecting the environment, therefore NFT Cloud does not support Proof-of-Work (PoW) blockchains as this consensus mechanism is a major cause of energy waste. amount of electricity. Instead, Salesforce announced that it will give preference to Proof-of-Stake (PoS).

That means that Ethereum, the leading platform for NFT collections, will most likely be the top choice. As Ethereum is in transition from PoW to PoS, which is expected to take place in August 2022. Recently, The Merge upgrade has been successfully deployed on Ethereum’s Ropsten testnet, opening a very bright opportunity for ETH to execute the merge on schedule.

Overall, Salesforce’s interest in blockchain technology dates back to 2018, when the company announced that it was working on a “secret” blockchain project.

Until earlier this year, things became clearer because the company’s investment arm Salesforce Venture joined Samsung Venture in a funding round, investing a total of $35 million in a blockchain company with the name Digital Asset Holdings.

In terms of NFT, this market has been steadily increasing throughout 2021, eventually bringing in a record-breaking $25 billion worth of transactions, according to data from DappRadar.

However, things have turned quite volatile in 2022, with activity plummeting in recent weeks amid the overall crypto market crash. Even so, NFT trading is still on track to surpass last year’s statistic, with nearly $16 billion in sales through June 2022.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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