The cloud services giant is revolutionizing customer relations by helping companies integrate NFTs into their businesses.
TL:DR
- Salesforce has launched a new platform called Salesforce Web3, offering a suite of products to help businesses create, manage, and integrate NFTs and Web3 technologies.
- Companies such as Crown Royal, Mattel, and Scotch and Soda have already tested the platform, which focuses on driving personalization, community, and brand excitement.
- Salesforce Web3 addresses privacy concerns with consent tools and supports proof-of-stake chains like Ethereum and Polygon, making it a promising solution for the future of customer relations.
Bold move
In a bold move, Salesforce, the global leader in customer relationship management (CRM) platforms, announced its expansion into non-fungible token (NFT) loyalty programs with the launch of Salesforce Web3. The platform will offer a suite of products designed to help businesses create, manage, and integrate NFTs and Web3 technologies into their operations.
According to the company, Salesforce Web3 is a game-changer that enables companies to build digital communities, create digital twins, and drive loyalty programs using unique digital assets like NFTs. Adam Caplan, Salesforce’s Senior Vice President of Emerging Technology, shared in a blog post the company’s enthusiasm for embracing Web3 and the possibilities it brings for businesses.
Salesforce Web3 encompasses an array of products, including Web3 Connect—an API integration that offers insight into the customer experience across both Web2 and Web3. The new platform also features NFT Management, which allows companies to create and monitor the success of their NFT collections and blockchain data directly through Salesforce.
Several high-profile companies, including Crown Royal, Mattel, and Scotch and Soda, have already tested Salesforce’s Web3 technology. The platform’s successful beta phase saw the execution of 275,000 transactions, signaling a bright future for the service.
Sven Gerjets, Executive Vice President and Chief Technology Officer at Mattel, praised Salesforce Web3 for enhancing the company’s NFT collections and bridging the gap between Web2 and Web3 systems. Salesforce CEO Marc Benioff first hinted at the integration of blockchain technology in 2018, and now the company is making strides with collaborations such as the NFT collection release for the city of Miami, in partnership with Time magazine and Mastercard.
The Benefits
Salesforce Web3 is expected to benefit brands in retail, consumer goods, media, and fashion the most. While some companies still see NFTs primarily as revenue generators, the technology’s true potential lies in its ability to drive personalization, community, and brand excitement, according to Caplan. The platform’s focus on customer experience, rather than industry jargon, ensures that businesses can maximize the benefits of NFTs and Web3 without alienating their audiences.
Privacy and security have been taken into account with Salesforce Web3, which features consent of privacy tools that enable wallet owners to share as much or as little information as they desire. Caplan also highlighted the platform’s support for proof-of-stake chains, with most Salesforce customers using Ethereum or Polygon. To minimize friction for end consumers, some brands are even opting to cover gas fees associated with blockchain transactions.
Not all squeaky clean
The launch of Salesforce Web3 has not been without controversy. In 2022, more than 400 Salesforce employees signed a petition protesting the company’s NFT initiatives. However, the company has since established an Ethical Use Advisory Council and a Web3 Advisory Board to address concerns and guide its strategy. Partnerships with consulting firms such as Accenture, Deloitte Digital, AE Studio, Media Monks, TIME, and Vayner3 have also been forged to ensure the platform’s success.
Salesforce’s foray into NFTs and Web3 is a testament to the rapidly evolving digital landscape. As more businesses look to capitalize on the potential of unique digital assets and new technologies, Salesforce Web3 is poised to play a crucial role in shaping the future of customer relations.
