Starbucks Is Planning to Launch Its Own NFT Collection Soon and There Are a Few Perks If You Get One

published May 6, 2022
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Barista pouring cream into Starbucks coffee cup.
Credit: Courtesy of Starbucks

Coffee giant Starbucks has announced plans to replicate the sense of community and shared ownership that is central to the brand’s identity in the metaverse. The company announced this week that it is set to release its first — in a planned series — of branded NFT collections.

While sharing that the collection will be based on Starbucks “coffee art and storytelling,” the announcement did not detail whether the brand would be partnering with any existing brands or platforms to create this new “Third Space,” nor which blockchain technology would be attached to the new NFTs. Those who buy into the Web3 collection will automatically join an online community, with access to exclusive experiences and perks.

“The themes of these collections will be born of Starbucks artistic expressions, both heritage and newly created, as well as through world-class collaborations with other innovators and like-minded brands,” Starbucks wrote.

The news comes a month after interim CEO Howard Schultz hinted at Starbucks entering the NFT arena, citing a “treasure trove of assets that Starbucks has, from collectibles to the entire heritage of the company,” as the advantage that would allow them to be competitive in that space.

In an interview with TechCrunch, Schultz made it clear that the company is vested in establishing itself in the digital world to remain in lockstep with younger consumers. This goal will be an important factor in identifying a CEO to replace former Starbucks president and CEO Kevin Johnson, who retired in March. 

“I think the next CEO is going to be a creative person who’s going to understand that the equity of the Starbucks brand has real legitimacy and relevance outside of our stores,” Shcultz explained. “And the world we’re living in today, our customer base is getting younger, they’re digital natives, and they expect Starbucks to be as relevant outside of our stores as we are inside.”

Will you be picking up a Starbucks NFT when the collection releases?