Coffee giant Starbucks has announced its plans to enter the web3 space by launching its very own NFT collection.
In the collection, which drops later this year, the unique digital collectibles provide their owners with access to exclusive content experiences and other benefits.
“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 told investors, according to TechCrunch.
The company will be hoping to tap into its 30 million active app users. According to Coindesk, the app is currently the second most used form of mobile payment in the U.S., behind Apple Pay.
The upcoming launch has been cited as being an extension of the brand’s loyalty program.”
“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, adding new concepts such as ownership and community-based membership models that we see developing in the web3 space,” he added.
In a blog post, Starbucks revealed more about its plans to enter the space.
“We plan to start with our first NFT collection, membership and community later this year, based on coffee art and storytelling. It will come with a host of unique experiences and benefits, worthy of a genesis NFT collection from Starbucks,” the post read.
The company is not yet aware of the blockchain it may use or how many.
