Starbucks is preparing to establish a loyalty NFT

Starbucks will introduce a loyalty-based NFT that will provide customers with exclusive experiences and benefits.

Starbucks’ artistic expressions, both heritage and freshly generated, as well as world-class collaborations with other innovators and like-minded brands, will inspire these collections, according to the firm.

In a blog post on the company’s website, Starbucks’ chief marketing officer, Brady Brewer, believes that NFTs have a lot of promise for expanding the shared-ownership model for loyalty, unique experiences, community development, storytelling, and customer involvement.

“While doing so, creating a new type of digital ecosystem to complement Starbucks present digital platform offering, while also being a source of accretive revenue that can benefit a lot of stakeholders in the process,” he said.

Brewer claims that the corporation has acquired a diverse range of assets that it could digitise and transform into NFTs over its 50-year history.

“Things like our rich history of coffee art and narrative, our almost 27 million active Rewards members in the United States, a long line of store designs and Starbucks card art, and other entertaining ways to bring digital communities and experiences to life in the digital realm,” he explained.

“Starbucks has a history of developing and making cutting-edge technology accessible and appealing for mass audiences.” We’ve learned how to engage customers at scale to unlock potential through loyalty, mobile payment, mobile ordering, and Wi-Fi.”

Brady said that a Starbucks Digital Community Web3 platform has the potential to be the first to combine an approachable, widely accessible front-end with quick and economical blockchain technologies.

“While our approach to blockchain technology will likely be multi-chain or chain agnostic in the end, we will undoubtedly start with blockchain-backed collections and infrastructure that is compatible with our multi-decade commitment to sustainability,” he said.

Starbucks will gradually roll out its Web3 division, beginning with its first NFT collection, membership, and community later this year, all based on coffee art and storytelling.

“It will provide a variety of unique experiences and advantages worthy of a Starbucks genesis NFT collection.” And this inaugural collection will serve as the foundation for future collections and collaborations, all of which will be built on the same new environment, according to Brewer.