Salesforce to Launch NFT Platform for Brands

The company has decided to proceed with the development of their NFT Cloud platform despite previous backlash from employees and existing consumers.
Salesforce to Launch NFT Platform for Brands

American software giant, Salesforce plans to move forward with a non-fungible token (NFT) marketplace with the announcement of NFT Cloud

The company’s objective is to make selling NFTs more accessible by leveraging sophisticated technology and a no-code interface. 

The product is believed to be a result of customer curiosity. 

“NFT Cloud is all about helping our customers mint, manage and sell NFTs”

Adam Caplan, Senior VP at Salesforce – TechCrunch

According to Salesforce, NFTs are becoming widely popular, with more and more brands looking to capitalize on the opportunity. As a result, there is significant interest from several sectors, including retail, fashion, FMCG, and media, to name a few.

NFT Cloud is currently in the testing phase and available to limited customers, but it is expected to be publicly launched in October. Salesforce is yet to specify anything on which blockchains the platform will support. 

Salesforce received backlash from its employees when it first announced its plans to release a marketplace for NFTs in February. A group of 400 employees expressed their concerns on the ethical and ecological impact of selling such digital assets in a protest letter sent to the CEOs, Marc Benioff and Bret Taylor.

Top executives from the company insist NFT Cloud is consistent with the values of the company. The service will only support energy-efficient blockchains while avoiding energy-intensive proof-of-work blockchains. 

Due to environmental concerns, it remains to be seen if the company will support Ethereum, the leading blockchain for NFTs. The platform might also opt for layer-2s built over Ethereum, like Polygon or Immutable X. 

Timing is essential for enterprise products. Even though Salesforce already has an established customer base, NFT sale volumes are rapidly falling with a 65% decline over the previous month due to the bearing sentiment within the market.

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James Satoshi
James Satoshi
James is a leader in Web3, NFTs, & DeFi with over 4 years of experience in the industry. You'll spot him covering all topics through-out Coinmash in our guides and analysis sections.