Starbucks Announces More Plans and Unveiling Date for Its Web3 Entrance

At a recent Q3 earnings call, Starbucks’ CEO Howard Schultz has revealed more news about the company’s entrance into Web3.

After initially expressing its interest in Web3 earlier this year, leading coffee-house Starbucks has made further inroads into its NFT entrance.u00a0

According to the words of its CEO Howard Schultz at a recent earnings call, the company has been u201cworking on an inspiring new digital initiative that builds on our existing industry-leading digital platform in innovative new ways, all centered around coffee and most importantly, loyalty.u201du00a0

In addition, and in coherence with the company’s reward-centric announcements when first issuing its interest in Web3, the initiative will build on the companyu2019s current rewards engagement model while also introducing new methods to engage customers emotionally. Here, things such as one-of-a-kind experiences and Starbucks-branded digital collectibles will be experienced as both rewards and community-building tools by coffee enthusiasts.

Ultimately, the endeavour will hope to expand the companyu2019s u2018digital third place communityu2019 (a sociological term that describes a community space between home and work).u00a0

The wait for the companyu2019s official inauguration into the metaverse isnu2019t too far away, as the company will unveil the digital initiative during its annual Investor Day in Seattle on September 13th.u00a0

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