Starbucks Ready To Dive Into The Enticing World Of NFTs

Starbucks Ready To Dive Into The Enticing World Of NFTs

During the company’s quarterly financial meeting, the coffeehouse corporation Starbucks laid out its plans on how it intends to get into NFTs, with the first of them being minted before the end of the year.

Starbucks CEO Howard Schulz and company vice president and CMO Brady Brewer, in a meeting with the company’s investors, explained the reasoning behind this new direction that they’ve decided to steer it towards. “Imagine acquiring a new digital collectible from Starbucks,” said Brewer, “where that product also serves as your access pass to a global Starbucks community, one with engaging content experiences and collaboration all centred around coffee.”

Starbucks also posted a blog post on their website which goes into greater detail:

“We plan to create a series of branded NFT collections, the ownership of which initiates community membership, and allows for access to exclusive experiences and perks. The themes of these collections will be born of Starbucks artistic expressions, both heritage and newly created, as well as through world-class collaborations with other innovators and like-minded brands.”

The company plan to launch a series of unique collectable digital items, based on the concept of non-fungible tokens, which will help create their own independent community. Owning one of these items will come with exclusive privileges to the hundred of stores that the company owns throughout the world, although they have yet to described.

Howard Schulz initially expressed his opinion in favour of NFTs during an open forum speech where he stressed that the company needed to do more to support them and that they needed to deliver for their partners.

However it remains to be seen which blockchain(s) Starbucks will be using to mint their fresh batch of NFTs, yet it’s sure to be one that proves to be friendly towards the environment, following in line with the company’s policies.


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