Your Starbucks habit isn’t entirely for nothing. Seattle-based coffee giant proud Rewards program that provides you with free drinks and foodAnd now… NFTs?
Starbucks chief marketing officer Brady Brewer announced plans to introduce NFTs into the loyalty rewards program in May.
“Emerging technologies associated with what is commonly called ‘Web3’ now enable this ambition in a way that expands who Starbucks has always had at our core,” Starbucks said in a blog post. “Web3 points to many things in the blockchain space, but the specific technology that has captured our imaginations is NFTs (non-fungible tokens).”
Now, it looks like NFTs will be rolling out next month, Food and wine Reports. Starbucks appears to have spun in advertising history during its recent earnings call.
“We have worked on a very exciting new digital initiative that builds on our industry-leading digital platform in new and innovative ways that are all centered around coffee and, most importantly, the loyalty that we will reveal on Investor Day,” said CEO Howard Schultz.
According to Schultz himself, the company plans to build on the existing Starbucks Rewards participation model, and combine it with branded digital collectibles as a “community-building reward element.” To translate, it could mean that buying NFTs could lead to customer rewards, or vice versa, NFTs could be rewarding in themselves.