{"id":63437,"date":"2023-03-15T05:00:00","date_gmt":"2023-03-15T12:00:00","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=63437"},"modified":"2023-08-31T11:13:00","modified_gmt":"2023-08-31T18:13:00","slug":"web-3-insights","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/news\/stories\/web-3-insights\/","title":{"rendered":"Salesforce Web3 Aims to \u2018Push the Industry in the Right Direction’"},"content":{"rendered":"\n

Editor\u2019s Note: AI Cloud, Einstein GPT, and other cloud GPT products are now Einstein. For the latest on Salesforce Einstein, go <\/em>here<\/em><\/a>.<\/em><\/p>\n\n\n\n

Technological advances are really only effective if they improve on experiences or create an entirely new kind of experience that manages to break through the inertia barrier and reach broad adoption. Does it do something that I can\u2019t currently do? Does it do something novel or better? Will it create new opportunities and markets?<\/p>\n\n\n\n

With Web3 \u2014 the next generation of the internet<\/a> \u2014 we are still in the midst of answering those questions. For those who might think the current version of the internet (Web2) checks all the boxes, there are others like Adam Caplan, Salesforce\u2019s SVP of Emerging Technology, who think that the next chapter of the internet is less about links and clicks as it is “about building community and creating personalized digital experiences in this Web3 world.\u201d<\/p>\n\n\n\n

In this interview, Caplan gets into the nitty-gritty of Web3 technology \u2014 or more specifically NFTs \u2014 as well as what the company is doing to help brands deploy and manage Web3 campaigns in a sustainable and trusted way.<\/p>\n\n\n\n

Q. For those unfamiliar, can you give a quick explainer about this space? What’s Web3? And what\u2019s an NFT?<\/strong><\/h4>\n\n\n\n

While still in its early years, the mission behind Web3 is to create a decentralized web that creates new types of ownership, new ways of building trust and collaboration, and offers exciting new opportunities for brands to engage with customers.<\/p>\n\n\n\n

NFTs and Crypto live in Web3<\/a>, which is the next generation of the internet built on blockchain. It allows people to read, write, and own their data and digital identity. And, it’s a decentralized network, meaning there is no centralized control point. Everyone in the network has the exact same copy of the data in the form of a distributed ledger. If someone’s ledger is altered or corrupted in any way, the majority of the people in the network will reject it.<\/p>\n\n\n\n

Crypto \u2013 Bitcoin, Ethereum, Dogecoin, etc. \u2013 are \u2018fungible tokens.\u2019 \u2018Fungible\u2019 basically means they’re all the same, they’re not unique, and one can be swapped for another.<\/p>\n\n\n\n

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Non-fungible tokens \u2013 NFTs \u2013 are <\/em>unique. They have unique properties and different rarity levels.<\/p>\n<\/blockquote>\n\n\n\n

Non-fungible tokens \u2013 NFTs \u2013 are <\/em>unique. They have unique properties and different rarity levels. They give their owners an opportunity to harness the IP to create value and a sense of community in terms of ownership. As an example, if I buy an NFT of a digital shoe, I can exclusively use it on my avatar in a virtual world. I also can get access to an exclusive new community of sneaker enthusiasts.<\/p>\n\n\n\n

Each time an asset, like my digital shoe, is purchased or transferred, a \u2018stamp,\u2019 much like a physical stamp, is added to the blockchain. Think of blockchain as a ledger that stores information, like purchases, in a digital format. Blockchain helps verify every step of the NFT purchase, from being stamped as owned by one person, to being sold, transferred, traded, and so on. It also helps verify ownership so holders know their NFT is authentic and unique.<\/p>\n\n\n\n

Q. So why is Salesforce getting into Web3, and why now? <\/strong><\/h4>\n\n\n\n

We\u2019ve seen a lot of interest from customers who want to understand and tap into this new world of Web3 and NFTs. Unique digital assets like NFTs present new avenues for brands to tap into first-party data to build digital communities, create digital twins, and drive loyalty programs.<\/p>\n\n\n\n

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Unique digital assets like NFTs present new avenues for brands to tap into first-party data to build digital communities, create digital twins, and drive loyalty programs.<\/p>\n<\/blockquote>\n\n\n\n

A sports team, for example, can offer NFTs that accompany a loyal customer\u2019s ticket, and the NFT unlocks early access to exclusive brand experiences. In this case, NFTs help drive loyalty with a brand\u2019s super-community.<\/p>\n\n\n\n

Brands can also leverage an NFT within a digital experience, which is really popular among clothing and fashion brands. There\u2019s a pretty amazing amount of clothing changes that are made to people\u2019s avatars in the metaverse \u2014 it happens daily, if not more. We see this in gaming too. So, we\u2019re seeing a lot of excitement about this use case, and with rewards delivered in the real world, such as exclusive, in-store opportunities or discounts.<\/p>\n\n\n\n

Q. What\u2019s it like entering such a new space?<\/h4>\n\n\n\n

We knew that this emerging space had risks. We partnered<\/a> with our Office of Ethical and Humane Use and Sustainability teams to make an easy-to-use technology that enables organizations to \u2018mint\u2019 (create, in NFT-speak), manage, and sell non-fungible tokens (NFTs) in a trusted, sustainable, and easily managed way, the same way they sell their physical products on the Salesforce platform but with an additional layer of trust and safety built in. <\/p>\n\n\n\n