Polygon Labs' president noted that the new partnership will allow Salesforce clients to "create token-based loyalty programs."
Salesforce, a global customer relationship management (CRM) software firm with over 150,000 clients, is partnering with Polygon to create an NFT-based loyalty program.
The new partnership will allow Salesforce clients to develop non-fungible token-based loyalty programs on the Polygon blockchain.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
Is Cryptocurrency a Good Investment? (5 PROS & CONS!)
The news was revealed by Ryan Wyatt, Polygon Labs’ president, on Twitter.
The announcement comes days after Salesforce launched a Web3 service on March 15th, which will help companies mint, manage and sell NFTs.
If successful, Salesforce’s Web3 services could be rolled out to over 150,000 firms that use its CRM services. In the year ending December 31st, 2022, the company reported an annual revenue of over $31.4 billion.
Loyalty programs are essential to the profitability of many businesses. They attract repeat customers, who can account for up to 40% of a company’s revenue, according to Smile.io, a major player in the rewards program market.
The rise of Web3 has been welcomed worldwide, with Japan, China, and South Korea leading the way in giving the technology official recognition. In South Korea, a $30 million fund has been created to boost growth in the Metaverse.
In recent months, Polygon has worked with some of the biggest global brands, including Square Enix of Japan, Starbucks, and Lotte Group of South Korea, to offer various Web3-related services.
Meanwhile, Meta, one of the biggest companies to make a foray into Web3, recently announced it was winding down its NFT business after spending millions on it in 2022.