Starbucks to Add NFTs to Loyalty Program

Starbucks will be announcing new NFT features to its rewards program. The company has seen success with its loyalty rewards, Starbucks Rewards, by embracing technology like the Starbucks App. Now, the chain is taking another technological jump with details on new NFT features coming soon.

Starbucks' chief marketing officer Brady Brewer – along with advisor Adam Brotman, who has worked on previous digital initiatives for the chain – provided an outline on the idea of "creating the digital Third Place,” the term for places people hangout besides work and home.

Brewer and Brotman wrote, "We plan to create a series of branded NFT collections, the ownership of which initiates community membership, and allows for 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."

Interim CEO Howard Schultz stated, "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 that we will reveal at Investor Day."

Starbucks has stated that NFTs would be tied to the Starbucks Rewards program, meaning that purchasing NFTs could potentially earn customers rewards or, conversely, NFTs could be provided as a benefit.

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