Starbuck is about to create a new community with NFTs

A community defined by collaboration, experiences and shared ownership, all centered on coffee extended to the many areas of art, music, books and digital …

Emerging technologies associated with what is known as Web3 now enable this aspiration in a way that expands what Starbucks has always been at the heart of our company. Many companies will reinvent themselves with their customers. The US firm believes blockchain will play an important role this time around for in-store use. A few years ago, Starbucks used blockchain for its coffee bean producers.

They launched a pilot program with selected coffee farmers in Costa Rica, Colombia and Rwanda to develop a blockchain-based system to share real-time information along the journey of coffee beans and unlock potential financial opportunities for coffee bean growers from around the world. other party. Using a smartphone, customers can scan a code on the back of coffee bags for an immutable record, created using the tools of Truffle Suite and Azure Blockchain, to view their coffee history. The dossier includes information on where the beans are grown, Starbucks’ efforts to support farmers in that region, where the beans were roasted, tasting notes, and more.

Starbucks turns 50, it is an iconic mobile brand that has very quickly realized the value of a smartphone in every customer’s pocket. They have amassed a treasure trove of resources that they can tap into such an ecosystem with nearly 27 million active Rewards members in the United States. This brand is sure to become a model for other companies to show that executing an NFT strategy with its physical business is beneficial to their consumers!

NFT

Many people see NFTs as a new form of ownership of digital art, often traded in a highly speculative way. While this was true at some level early in the space and still holds true now for some titles, brands are often fascinated by how NFTs allow people to own a programmable and customizable digital asset, which doubles as a pass. access. Starbuck believes NFTs have vast potential to create an expanded shared ownership model for loyalty, delivering unique experiences, building communities, storytelling and customer engagement. This new source of related business will benefit a number of stakeholders in the process, while creating a new type of digital ecosystem to complement Starbucks’ current digital platform offering.

The company plans to create a series of branded NFT collections, ownership of which initiates community membership and provides access to exclusive experiences and benefits. The themes of these collections will arise from Starbucks artistic expressions, both heritage and newly created, as well as from global collaborations with other like-minded innovators and brands.

Starbucks also has a history of adopting cutting-edge technology, innovating and making it accessible and accessible to the masses. Our history of loyalty, mobile payments, mobile ordering, and Wi-Fi has taught us how to engage customers at scale to unlock opportunities. A Starbucks Digital Community Web3 platform has the potential to pave the way for the combination of an accessible and widely accessible front-end supported by appropriate, fast and affordable blockchain technologies. Their approach to blockchain technology is sure to start with supported collections and infrastructure consistent with our decade-long commitment to sustainability.

As with mobile devices, Starbuck plans to take a step by step approach, eager to move fast, experiment, learn and collaborate. He plans to start with our first collection with the NFT community later this year, based on the art of coffee and storytelling, with a number of unique experiences and benefits worthy of a Starbucks Genesis NFT collection.

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