American Coffee giant Starbucks Corporations has announced the company’s entry into the digital art world of NFTs. Starbucks ultimately plans to launch a Starbucks Digital Community Web3 platform, built on blockchain technologies which are ‘fast and inexpensive’.
Starbucks plans to launch a series of branded NFT collections. The first collection will be dropped later this year and will be based on coffee art and storytelling.
The ownership of these NFTs will grant the holder access to community membership, and exclusive perks and experiences.
The theme of these NFTs will be in line with Starbucks artistic expression till date. The company will partner and collaborate with innovators and like-minded brands across the globe to achieve this feat.
The whole Web3 project of the company will be launched on a sustainable blockchain which is either multi-chain or chain agnostic.
Starbucks is marketing this upcoming digital space as a ‘Third Place’ between home and work. In keeping up with the dawn of this hyper digital era, it is only fair that this Third Place be digital as well, which is where the NFTs and the Web community projects of Starbucks come in.
Starbucks believes that NFTs have the potential to create an “expanded, shared-ownership model for loyalty, the offering of unique experiences, community building, storytelling, and customer engagement.” They also believe that the digital art will supplement their earnings, benefitting the stakeholders.
Last month, the interim CEO Howard Schultz first unveiled the NFT project at an Open Forum addressed to a global audience of 15,000 employees. He said that by going into this sector, the company would be able to improve its customer and working experience.
