Starbucks is planning to launch a series of non-fungible token or NFT collections to let customers collect digital representations of their favorite coffee drinks.
Partnership with Blockchain
The company has partnered with a blockchain startup to create a digital token that will allow customers to track their coffee’s journey from farm to cup. The token will be available only through Starbucks, and customers can use it to make purchases at any of its stores worldwide. In addition to tracking the origins of its coffee beans, Starbucks is also using the technology to provide information about where they are sourced from and when they were roasted. Customers can also use their tokens as rewards points, which will allow them to get discounts on drinks or food items.
Starbuck, NFT Collections and Blockchain Technology
Starbucks is already one of the most popular brands globally, so it is no surprise that it would be looking for ways to expand its reach by offering a new form of engagement with customers. The company has already begun accepting cryptocurrency payments at some locations, but this is the latest move in its efforts to do more with blockchain technology.
This move marks another step in Starbucks’ efforts toward becoming a significant player in blockchain technology, non-fungible token and cryptocurrencies. If implemented successfully, there are rumors of a cryptocurrency-based debit card that would allow customers access to both fiat money and cryptocurrencies through one card.
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