Starbucks will release its first NFT series later this year. The business promises that the release will provide a slew of one-of-a-kind experiences and advantages befitting of a genesis NFT collection. According to Greg Isenberg, the Starbucks loyalty programme has over 26 million active users and could easily become America’s largest utilised crypto wallet.
What Are These NFTs
Starbucks has become a household name across the world, and it is frequently associated with beverage products. They do, however, have a history for being more than just a coffee shop — a tech firm, if you will. They have a track record of taking cutting-edge technology, developing it, and making it available to the general public. This is evident in their loyalty programme, mobile payment, mobile ordering, and even the provision of Wi-Fi to its consumers.
More significantly, the organisation collects massive volumes of data every week from over 100 million transactions. Because of their use of data, artificial intelligence, and the Internet of Things, they understand their clients better than anybody else, giving them a significant competitive edge.
Creating the Starbucks Digital Community Web3 platform with blockchain technology can open up even more possibilities. Starbucks NFTs will implement a shared-ownership loyalty model. Furthermore, the organisation may provide more one-of-a-kind experiences, community building, storytelling, and consumer interaction. The community will essentially own a programmable, brandable digital asset that also serves as an access pass.
So far, we know that the Starbucks NFTs will undoubtedly be launched on one of the most sustainable blockchains in order to meet their sustainability goals. Interoperability will also be prioritised in the blockchain choices. Given the company’s global presence, it should be critical to focus on multi-chain or chain-agnostic designs.
Moreover, the collections will be centred on the company’s aesthetic expressions, both traditional and innovative. Starbucks will also seek out collaboration opportunities with world-class innovators and like-minded firms.
The Starbucks NFT Collectibles
Starbucks cups and drinking glasses have been around for a long time and sell out rapidly. They frequently come in a variety of styles, with the manufacturer creating unique patterns for each season. Because of their distinctive designs and limited-edition releases, this products may command high secondary market prices. A China edition tumbler went for more than $1,000 in late 2019, while a Greece edition cup resold for over $2,000 in 2009.
A cult following has grown around these items, and the Starbucks NFTs may benefit from this success. I don’t see why an NFT couldn’t turn it into a proud Instagram post if a new tumbler can.