Starbuckscoffee-themed at next month’s Investor Day event NFTs including Web3 will explain its initiative.
Starbucks Could Not Be Indifferent To The NFT Market That Has Recently Experienced The Bull Season
company earlier this year. cryptocurrency and its plans to enter the Web3 space, stating that its NFTs will not only remain digital collectibles, but will provide their owners with access to exclusive content and other benefits.
At that time, Starbucks did not give much space to details such as what the first NFT collection would look like, what features it would provide, and which Blockchain it would be built on.
The company said its plans would likely be multi-chain or off-chain, pointing to unconfirmed plans.
Overall, the coffee retailer, which keeps Web3 news at the forefront, said it believes digital collectibles can deliver profitable value to its stores and will reveal more details in 2022.
While there are some companies joining the digital collectibles caravan without thinking about how their investments will fit into their big business goals, Starbucks seems to be trying a different approach. Starbucks sees collectibles as part of customer loyalty.
The company has appointed Adam Brotman, the architect of the Mobile Order and Payment and Starbucks application, as a special consultant on the project.
One of Starbucks’ greatest achievements in terms of technological innovations has been Online Ordering and Payment.
The company was one of the first to introduce the concept of digital wallet, even before Apple Pay became popular. As the widespread adoption of payments became more widespread, so did Starbucks’ online orders.
Online orders, delivery, and drive-through services totaled 72% of Starbucks’ revenue in the U.S. in the third fiscal quarter of Starbucks.
The company also stated that after the COVID-induced changes in consumer behavior, the online order sales rate increased by 13% compared to the previous year, reaching a record level of 47%.