After announcing its interest in entering the metaverse last month, coffee giant Starbucks has now partially revealed its inaugural NFT strategy.
The announcement came as part of the company’s quarterly earning report, where within it, the company stated that it wishes to roll out its ‘Starbucks Digital Community Web3’ later this year. This will essentially be a digital community that extends on the company’s ‘third place’ concept (i.e. a place between work and home) by placing it in the metaverse.
The company has kept things rather ambiguous when it comes to the NFTs that’ll initially be on offer to coffee-lovers, as it has simply stated that it will enable holders to access exclusive Starbucks-related experiences and perks.
In addition, Starbucks’ chief marketing officer Brady Brewer also stated that the company is making deliberate choices to build the ‘Starbucks Digital Community Web3’ around environmentally sustainable Web3 platforms. Another company spokesperson described the endeavour as one which is a natural progression from its other tech-fuelled innovations such as mobile ordering, in-store WiFi, and the Starbucks Rewards program. With this in mind, we could perhaps expect to see the new platform branch out into areas of art, music, books and other genres – just like the company has naturally done over its 50+ years of operation.