Starbucks is going to be in the NFT business sometime before the end of this calendar year. That was one of the secrets that the company's head Howard Schultz revealed at an Open Partner Forum. The Starbucks CEO did not elaborate on the details nor gave a precise timeline.
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He said though that the company has the "treasure trove of assets," hinting that the Seattle-based company already has a plan about its upcoming NFT offerings:
"If you look at the companies, the brands, the celebrities, the influencers, that are trying to create a digital NFT platform and business, I cannot find one of them that has the treasure trove of assets that Starbucks has from collectibles to the entire heritage of the company."
In August 2020, the multinational chain of coffeehouses started marking its beans with codes on the bags to check where cereals came from and where they were roasted with the help of blockchain technology. To maintain transparency and data accuracy, Starbucks selected blockchain solutions developed by Microsoft.
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