Newly appointed CEO of Starbucks, Howard Schultz, recently announced his plan to make a breakthrough into blockchain technology with “Starbucks NFTs.”
Schultz attended a TownHall meeting where he announced his plans to improve Starbucks as a brand. He expressed the need for brands to adopt the latest digital innovations to keep up with the changing world.
NFT world and Metaverse have recently grabbed the world’s attention. Brands and businesses are taking over the NFT space to establish their name in the industry. It can also be considered a marketing strategy to bring more customers.
According to the CEO, compared to other brands and businesses, Starbucks holds a heritage of collectibles that can be valuable to buyers. NFTs are a way to showcase those collectibles and keep them alive for years to come. “So, here’s the secret: sometime before the end of this calendar year, we are going to be in the NFT business,” Schultz said.
Although there are no specific details on what it is going to look like, whether it will be a collaboration with digital artists or original NFTs like McDonald’s recent Triple Cheeseburger NFT. Whatever it is, it will be big, that’s for sure.
“All I ask of you is to embrace, not a standard of mediocrity, but embrace every step of the way, a standard of excellence,” said Schultz.
Howard Schultz became the CEO of Starbucks on Monday, succeeding the previous CEO, Kevin Johnson, who just finished his five-year run.
This project will be Starbucks’ first entry into the NFT space; it is Starbucks’ “Digital Innovation through NFTs.” The CEO plans on announcing many other development initiatives later this year
