Starbucks Announced to Enter the NFT Space in 2022

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Source: Starbucks

According to Starbucks CEO Howard Schultz on Monday, April 4, they will get into the NFT business in 2022.  He held a town hall meeting with Starbucks workers regarding the union organization and to share vision for Starbucks’ future.

“If you look at the companies, the brands, the celebrities, the influencers, that are trying to create a digital NFT platform and business, I can’t find one of them that has the treasure trove of assets that Starbucks has from collectibles to the entire heritage of the company,” according to Howard Schultz. “So, here’s the secret: sometime before the end of this calendar year, we are going to be in the NFT business.”

In a report, “digital innovation through NFTs and plans for continued evolution of partner benefits.” Even though the plan was shown, Starbucks have not yet shared more detailed information.

There was no big surprise with Starbucks’ NFT announcement since several major brands have already launched their NFTs.  Recently, Mcdonald’s Italy launched a triple cheeseburger NFT to celebrate the triple cheeseburger launch across the country.  Customers who purchased a triple cheeseburger on the restaurant’s app between March 12th and April 5th had a chance to win these NFTs with a total supply of 300.

In addition, OffLimits dropped 2,500 personalized cereal box NFTs which will be able to be designed and minted by NFT holders.  OffLimits is a cereal company created in 2020.

Brian Povinelli, who is Marriott International’s Senior Vice President, stated that NFT integration will be what the hospitality industry needs in 2022.  We can assume that more businesses will be dropping their own NFTs this year.