Starbucks Rewards Program to Incorporate NFTs Next Month

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Starbucks Coffee, one of the world's most coveted coffee franchises, has released information about a Web3-based rewards system for customers.

It seems that at some point in the near future, coffee-goers will be able to turn their coffee drinking habits into free NFTs. Currently, the Starbucks Rewards program allows users to order food or coffee on the Starbucks app. However many stars customers accrue from ordering, the more free items they receive. Some of these free items customers earn may soon be NFTs that can unlock exclusive experiences and branded collectibles.

While it has not formally been announced, Starbucks founder and interim CEO, Howard Schultz, teased information about the company adding NFTs into the fold:

"We have been working on a very exciting new digital initiative that builds on our existing industry-leading digital platform in innovative new ways all centered around coffee and most importantly, loyalty...we believe this new digital web3-enabled initiative will allow us to build on the current Starbucks Rewards engagement model with its powerful spend to earn stars approach while also introducing new methods of emotionally engaging customers, expanding our digital third place community, and offering a broader set of rewards."

Full details haven't been rolled out yet. Starbucks will be releasing them at next month's Investors Day event on September 13th.

The NFT community has reacted comically to the news regarding the Starbucks Rewards Program.

From a strategic standpoint, the move is primarily in an attempt to attract more Gen Z customers. Starbucks firmly believes in the importance of maintaining interest from younger demographics, rather than appealing to older generations. Clearly, they have identified Gen Z's interest in NFTs as a marketing focus point.

Some companies dive into NFTs just to get involved but don't fully process the way it can best impact their business. Not Starbucks. The coffee brand is unraveling its plan through the market-leading Starbucks Mobile Order App. To ensure success, the architect of its Mobile Order & Pay system and the Starbucks app, Adam Brotman, is serving as a special advisor on the project.

Following the trends of other companies, like Tiffany and Co., Chipotle and Gucci, Starbucks is another household brand name wanting to immerse itself in Web3.

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