Salesforce, one of world’s largest customer relationship management software firms, has partnered Polygon Labs to help its clients develop non-fungible token (NFT) based loyalty programs on the Polygon blockchain, Ryan Wyatt, the president of Polygon Labs said on Twitter Thursday.

See related article: South Korea’s Lotte Group partners with Polygon for global NFT drive

Fast facts

  • On Wednesday, Salesforce launched its Web 3.0 service to enable its client companies to mint, manage and sell NFTs on a blockchain platform, according to its website.
  • “NFTs present an opportunity for companies to find new audiences and source zero-party data, and to unlock co-creation and co-ownership, token-gated communities, and personalized engagement using wallet data,” the company said.
  • In the last few months, Polygon has partnered a slew of major companies such as Starbucks, Japan’s Square Enix, and South Korea’s Lotte Group to help establish services on Web3, a reference to the evolution of the Internet to be built on decentralized blockchains hosting virtual reality, metaverse and other services.
  • Japan, China, South Korea and other countries have officially endorsed Web3 as a new growth sector in their economies. However, some of the enthusiasm around NFTs is fading with Meta Platforms announcing Tuesday that it is winding down its NFT services on Facebook and Instagram to focus elsewhere after its Metaverse division lost more than US$13 billion last year.
  • NYSE-listed Salesforce reported a yearly revenue of US$31.4 billion in the full fiscal year that ended Jan. 31, 2023. The company states on its website that more than 150,000 firms use its CRM services.

See related article: Polygon Labs cut 20% of workforce