Salesforce Launches NFT Management Platform for Loyalty Programs

UTC by Ibukun Ogundare · 3 min read
Salesforce Launches NFT Management Platform for Loyalty Programs
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In building the NFT platform, Salesforce considered the importance of user privacy and its implications.

Salesforce (NYSE: CRM) has announced Salesforce Web3, a platform for its clients to develop NFT loyalty programs. The customer relationship management software provider launched the new NFT management platform on March 15, following a pilot program of 257,00 transactions involving some Salesforce clients. Canadian whisky Crown Royal and toy manufacturer Mattel (NASDAQ: MAT) participated in the pilot program before the official launch of the Salesforce Web3. Clothing brand Scotch & Soda was also involved in the pilot program.

Salesforce Rolls out NFT Management Platform

Upon unveiling the NFT management platform, Salesforce clients will be able to mint and sell NFTs. At the same time, Salesforce Web3 will allow businesses to monitor blockchain activity as well as view real-time customer data. The new service is available in subscription tiers, allowing customers to choose their preferred choice. The General manager of Web3 at Salesforce commented on the newly-introduced NFT platform. Adam Caplan said:

“One of the most interesting and powerful things is access to first-party data. As regulations shift and Apple changes the rules around cookies, Facebook and brands don’t want to spend all this money with some of these organizations–the crypto wallet becomes really powerful so I can directly engage with a customer and have access to the first-party data.”

Caplan’s statement is similar to what the company’s Web3 lead, Marc Mathieu, said on crypto wallets. In February, Mathieu opined at NFT Paris that crypto wallets are the new cookies. At the time, he referred to Salesforce’s foray into Web3 as “a new kind of relationship with a new generation of customers, with-at its heart- a new set of data.”

In building the NFT platform, Salesforce considered the importance of user privacy and its implications. The Web3 Gm said the privacy tools give room for wallet owners to decide how much information they are willing to share. Crown Royal, Scotch & Soda, and Mattel minted thousands of NFTs during the testing phase. Mattel’s Hot Wheels NFT Garage Series has 215,000 NFTs of digital cars. The toy company revealed that some digital collectibles allow holders to earn physical Hot Wheel Products. As for Scotch & Soda, the clothing line, together with Salesforce, launches its free NFT loyalty program called Club Soda 3.0. Crown Royal minted more than 20,000 digital collectibles linked with its sending care packages to active military members. Caplan said in a statement:

“A couple years ago, brands thought of [NFTs] as a revenue generator, and that is true to some extent still- Mattel sold out in 12 hours, it was a huge success. But a lot of brands are seeing this as engagement as well, maybe there isn’t revenue and we should just give away these NFTs to drive personalization, community, excitement of our brand and target a younger audience.”

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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