Salesforce has revealed it is planning an NFT cloud service

The announcement came during an online sales kickoff on Wednesday, February 9.

The news comes after a a December blog post, from Salesforce’s director of market strategy which anticipated that 2022 will be a major year for NFTs.

Mathew Sweezey, director of the market strategy at Salesforce, said: “Pioneering brands will search for utility via NFTs.”

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“To unlock their full potential, brands are going to have to start creating utility via the token.

“In 2022, you’re going to hear a lot more about NFTs, and there will be winners and losers.”

NFTs (non-fungible tokens) are one-of-a-kind digital assets that are stored utilizing blockchain technology. They’ve taken off in the art and collectibles sector, and Salesforce sees an opportunity to incorporate the technology into enterprise software.

The staff member requested anonymity because the event was private, another source reported that executives at the conference used Pepsi’s NFT-related work as an example.

Salesforce, which provides cloud-based software for sales people, marketing departments, and e-commerce vendors, wants to offer a service for artists to develop content and release it on a marketplace like OpenSea, according to one source.

OpenSea, a decentralized app store, received $300 million at a $13.3 billion valuation last month, on the strength of a spike in NFT trading, which topped $23 billion in 2021.

Salesforce could also potentially integrate the tool into its own ecosystem, where transactions could be managed, the people said.

A Salesforce-owned marketplace could mean there wouldn’t be a need to use OpenSea – the biggest NFT marketplace.

Salesforce is based in San Francisco and employs 29,000 people around the world.

What is an NFT?

A non-fungible token is a unique piece of data, which employs technology that allows digital content.

These can include videos, songs and images.

These are then logged on cryptocurrency blockchains.

Once the content is in the blockchain, every transaction from transfers to sales is recorded on the chain.

The aim of this accessible ledger of provenance and price history.

The idea of an NFT is to make it easy to own and sell digital content.

Source: CNBC

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