Starbucks to launch NFTs this year

The Coffee giant declared its plans to enter the Web3 space with the launch of its NFT collection this year. where the individual digital collectibles also provide their owners with access to exclusive content experiences and other benefits. 

Starbucks to launch NFTs this year

Starbucks touted its plans to investors on its Quarter 2 earnings call by explaining how NFTs can help Starbucks extend its brand's concept of the "third place" 

Emerging technologies associated with web3 and specifically NFTs, now enable this aspiration and allow us to extend who Starbucks has always been at our core. Starbucks Chief Marketing officer Brady Brewer said to investors on the call "we are creating the digital third place to achieve this, we will broaden our framework of what it means for people to be a member of the Starbucks community."

The company noted it would build out its NFT community on an "environmentally sustainable" The company didn't would be more in line with its existing sustainability commitments. 

Also Starbucks brand and global experience he said the new CEO should have an understanding of web3 technologies, as they could help Starbucks better connect with younger people. 

Read: Starbucks CEO confirms entering into metaverse business in 2022