Starbucks is going to create a series of non-fungible token (NFT) collections to grant their owners access to exclusive experiences and perks. The company said in a blog post that the themes of the collections will be "born of Starbucks artistic expressions," including heritage and newly created collaborations.
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"Our approach to blockchain technology – while ultimately likely to be multi-chain or chain agnostic – will certainly start with collections backed by blockchains and infrastructure that is consistent with our multi-decade commitment to sustainability."
While Starbucks didn't go into further details, the company said it plans to start with its NFT collection in a phased approach later this year. The Seattle-based company added that its first NFT drop will also form the core of the digital community. Starbucks first announced plans for NFTs in April. The company's head, Howard Schultz, revealed at an Open Partner Forum that the company has the "treasure trove of assets."
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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