Starbuck is in the Web3 space, and ready to debut NFTs with exclusive perks.
Starbucks: A cup of hard to pronounce NFTs
Starbucks is a brand unlike most others, and in more ways than one, this company has grown to the extent that it is more than just a coffee brand now. These days, Starbucks has become part and parcel of many people’s lives, and as a cultural icon, this brand has a lot of influence on people all over the world..
Earlier in the week, Starbucks shared its quarterly report, and as part of its report, the company shared that it plans to utilize blockchain technology to foster a digital community with access to a wealth of exclusive perks.
Starbucks has been trying to extend its “third place” concept for a while. The “third place” concept is being designed to be a place between home and work – in the digital world. Starbucks envisions a reality where customers will be able to purchase NFTs from Starbucks, and these tokens will grant holders access to “Starbucks-related experiences and perks.”
Starbucks has shared that delving into the Web3 space is a natural progression from its tech-related initiatives such as in-store Wifi, mobile ordering, the Starbucks rewards program, and much more. Since Starbucks’ CEO announced its NFT business earlier in the year, there has been a considerable amount of movement in the space on the company’s side.
Starbucks digital community Web3
Starbucks is not the first powerhouse company trying to make a massive splash in the Web3 space, and when we think about tech players, Starbucks might not come to mind – but in more ways than one, Starbucks is a major player in the tech space.
Starbucks shared the following via a blog post, “What if Starbucks could create a new, global digital community – a community defined by collaboration, experiences, and shared ownership – all centered around coffee to start, and then perhaps expanded into the many of the areas Starbucks has played in over the years as a coffeehouse; art, music, books and beyond?”
After all, is said and done, Starbucks is one company with the potential to do amazing things in the Web3 space, and this company promises not to disappoint.
Starbucks NFT: here for the long term?
Whenever an established company, especially those in unrelated industries, announces plans to delve into the NFT and Web3 space, the question in a lot of people’s mouths is whether the company is interested in a quick NFT “money grab” or genuinely committed to improving customer and user experience through its NFTs.
Other consumer brands, including Nike, Yum! Brands, Crocs, iHeartMedia, Adidas, and more have made their NFT debuts. Speaking on why the NFT ecosystem is essential to Starbucks, Brady Brewer, the company’s Chief Marketing Officer, shared the following about what the company is doing: “making deliberate choices to build the community on environmentally sustainable Web3 platforms.”