Starbucks Is Brewing NFTs That Will Grant Customers Exclusive Access
By Alexa Heah, 05 May 2022
As one of the most popular coffee chains in the world, Starbucks is no stranger to leading the charge when it comes to adopting technological trends.
The brand has consistently been at the forefront of loyalty rewards, mobile payments, mobile ordering, and in-store Wi-Fi, providing customers with fuss-free ways to enjoy their favorite brew.
Now, the company is dipping its toe into the world of non-fungible tokens (NFTs), which it believes will “create an expanded, shared-ownership model for loyalty, the offering of unique experiences, community building, storytelling, and customer engagement.”
Apart from being a token of artistic expression, which Starbucks revealed could feature “world-class collaborations” with innovators and popular brands, the digital assets will double up to give customers access to exclusive experiences and perks.
Naturally, any NFT project will come with the query of its environmental implications, and as a brand championing sustainability as one of its core practices, the firm pledged that it would only feature collections on blockchains that are “consistent” with its eco-friendly commitments.
Customers can expect the first collection, which will be inspired by coffee art and storytelling, to launch later this year, with the brand saying it plans to take “a phased approach” to the releases.
“This first collection will form the core digital community and backbone against which we hope to build future collections and collaborations—all building on the same new ecosystem,” Starbucks said.
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