Starbucks Plans to invest in Web 3.0.
Starbucks sees NFTs as a new way to build loyalty. It won’t just be a matter of speculation for Starbucks, the company sees much further ahead for its first collection of NFTs. Starbucks announced earlier this month its ambition to invest in Web 3.0 with a collection of NFTs and the creation of a third site.
The company is also looking for a new CEO who can understand the new technologies in this space.Starbucks wants to move into Web 3.0Starbucks has been striving towards Web 3.0 for some time. The company announced during its investor conference call late last quarter that it had big ambitions for its vision of the metaverse: third place. Brady Brewer, Executive Vice President and Chief Marketing Officer, describes this place as somewhere between home and work. Our customer base is getting younger, they’re digital kids, and they expect Starbucks to be as relevant outside of our stores as we are inside,” said Howard Schultz, interim CEO.
Slated to launch later this year, Starbucks’ NFT collection will be based on the concept of coffee artistry and storytelling, drawing inspiration from the company’s 50-year history. Looking beyond speculation Starbucks does not want ownership of a non-fungible token to be pushed solely for speculative purposes. We are intrigued by how NFTs enable people to own a programmable and customizable digital asset that doubles as an access card, the company explains in its statement. Starbucks NFT owners can then access exclusive benefits and experiences through a community membership title. No example has been announced at the moment.
If currently the main use of non-fungible tokens is speculation, some companies are trying to make real use of their collections. In May 2021, digital agency Emikna announced a partnership with Arianee, a specialist in creating digital passports for fashion and luxury brands using NFTs. Their protocol makes it possible to guarantee the authenticity of a product and trace its history of repairs and modifications using its non-fungible token. This is enough to give more value to this much-criticized technology.
Newer Articles
- System Debugging: Advances in Software Vulnerability
- New Technology guides Autonomous Vehicles safely through a highly uncertain environment
- Monkeypox spread in UK: Out of 7 patients found 4 patients are gay or bisexual
