In the midst of falling trade volumes, Salesforce is testing a new service called NFT.
Salesforce, an American cloud-based software business, is testing a new non-fungible token (NFT) cloud service for minting, maintaining, and selling NFTs, according to Bloomberg. NFT Cloud is the name of the service, and it aims to simplify the NFT experience for consumer brands. The product is developed specifically for consumer businesses looking to sell NFTs for unique access, such as attendance at an event. Salesforce will allow a limited number of clients to test the service before launching it in October. Salesforce wants to provide a better security service to its clients in light of recent assaults on NFT platforms and projects. Salesforce will be able to freeze funds or wallets linked to illegal activity in order to avoid fraud.
Thanks to NFT Cloud, brands will be able to organise sales on their websites to demonstrate the integrity of their tokens. On the other side, Salesforce will be in charge of backend security, contract writing, and authentication. According to Adam Caplan, Senior Vice President of Emerging Technology at Salesforce, clients prefer to leverage NFTs to boost engagement rather than asset value. Caplan went on to claim that Salesforce’s NFT Cloud will help businesses acquire carbon offsets, which will help in the fight against climate change. In addition, to lower the industry’s carbon footprint, the service would make use of ecologically friendly blockchains.
Apart from the crypto market’s poor performance, the NFT area has been targeted by various hacks, resulting in losses of millions of dollars so far this year. The NFT industry has lost almost $2 million in the last 30 days. A phishing assault against Moonbirds, an Ethereum NFT project, is one of the attacks in space. The loss of 29 NFTs valued at $1.5 million was the outcome of this attack. Previously, an attacker used renowned digital artist Beeple’s Twitter account to advertise a phishing site. The hacker pocketed $438,000 as a result of his actions. The popular NFT project Bored Ape Yacht Club was the target of the most recent attack (BAYC). A total of $360,000 in NFTs were lost as a result of this attack.
Read more: Investors are flocking to Bitcoin while Ethereum sees its outflows continue for the ninth week in a row.