Starbucks plans to launch a series of non-fungible token (NFT) collections. The coffee chain says its digital collectibles will likely be blockchain independent. They will offer perks tied to its physical locations for coffee lovers to enjoy.
NFTs strong in coffee for enthusiasts
The popular coffee chain says its NFTs will offer “unique experiences, community building and customer engagement.” Also, these tokens will be complementary to its current app-based digital ecosystem.
In addition to the NFTs, the company hinted at a “Starbucks Digital Community Web3 platform.” This would be a full-fledged ecosystem, possibly linked to in-store mobile payments.
The Starbucks app is currently the second most used form of mobile payment in the United States. In fact, it ranks just behind Apple Pay, with more than 30 million active users.
A decaffeinated blockchain for Starbucks
When it comes to the blockchains the company is specifically looking at, Starbucks didn’t say much. The company just mentioned two criteria. Namely, the blockchain chosen will need to be “fast and inexpensive.”
“Our approach to blockchain technology, while ultimately likely to be multi-chain or blockchain-independent, will certainly begin with collections backed by blockchains and infrastructure consistent with our decades-long commitment to sustainability.”Starbucks coffee chain statements
Starbucks’ plans to get into NFTs were first announced by the company’s CEO, Howard Schultz, in April. Indeed, he had introduced the topic at a company town hall meeting in response to its nationwide unionization efforts.