Starbucks set to add NFTs to loyalty program

Starbucks is poised to announce the details of new NFT features slated at their Investor Day on September 13.

In Starbucks’ most recent earnings call, interim CEO Howard Schultz revealed that they have been working on a very exciting new digital initiative that builds on our existing industry-leading digital platform in innovative ways.

According to Schultz, the digital Web3-enabled initiative will allow them to build on the current Starbucks Rewards engagement model with its powerful spend-to-earn Stars approach.

Schultz added that they will also roll out new strategies for emotionally connecting clients, growing their network, and providing a wider range of prizes.

In May, Starbucks' chief marketing officer Brady Brewer and advisor Adam Brotman, said they 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.

These collections' themes will emerge from Starbucks' aesthetic expressions, both traditional and contemporary, as well as through world-class partnerships with other innovative and like-minded companies.