Starbucks CEO Howard Schultz on Monday, April 4, announced the company’s plans to enter the NFT space in 2022. He was speaking in a town hall meeting for Starbucks workers amid a major union drive. Reportedly, the coffee chain is aiming to improve the experience of both customers and employees.
Starbucks NFTs: What we know so far
“If you look at the companies, the brands, the celebrities, the influencers, that are trying to create a digital NFT platform and business, I can’t find one of them that has the treasure trove of assets that Starbucks has from collectibles to the entire heritage of the company,” Schultz said. “So, here’s the secret: sometime before the end of this calendar year, we are going to be in the NFT business.”
In a separate statement, Starbucks confirmed the company’s plans to get into NFTs. Apparently, “digital innovation through NFTs” and several other initiatives are in the pipeline. However, the company is yet to reveal more details.
Starbucks’ NFT announcement comes at a time NFT adoption is gaining traction across industries. What’s more, several major brands have already dropped their NFTs.
McDonald’s Italy, for instance, recently launched a triple cheeseburger NFT to celebrate the launch of the Triple Cheeseburger. Basically, customers who bought a Triple Cheeseburger on the restaurant’s app between March 12 and April 5 had a chance to win an NFT.
Similarly, Cereal company OffLimits recently launched 2,500 custom cereal box NFTs. NFT holders also had an opportunity to design and mint a one-of-a-kind cereal box NFT.
As Marriott International’s Senior Vice President, Brian Povinelli noted, hospitality industry NFTs will be the biggest thing in 2022. We can certainly expect more brands to follow suit in the coming months.
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