Starbucks combines cryptocurrencies and tokens are not functional (NFT) hype with a collection of NFTs that will function similarly to your current Starbucks Rewards loyalty program later this year. NFTs serve as a means of digitally verifying the ownership and authenticity of a particular item, from artwork to the first Tweet. In theory, someone could easily fake a fraudulent Starbucks Rewards card or even hack into a user’s loyalty account. However, using NFTs makes fraud and strikes significantly more difficult. While it is possible to use NFTs to support high-performance physics, until now the technology has mainly been used to protect digital activities.
NFTs are backed by blockchain, an evolving technology that is heavily in the grip of cryptomers and collectibles. It is the same network that supports popular cryptocurrencies such as Bitcoin and streamlines currency movement between users and digital cards. The blockchain stores interconnected data that is difficult to hack and, held by cryptocurrencies and NFTs, validates the ownership and authenticity of the item. The data is encrypted and stored with each block attached so that each deposit can be validated individually. For this reason, it is easy to see who currently has an NFT, who already has it and if it is authentic. Starbucks now wants to use the same technology for its association and loyalty program.
Starbucks plans to launch its NFT collection project for the brand later this year, with the exclusive benefits of association and loyalty attached to it, the company said in a statement. Press communication. He didn’t give any details on what these collections might be like or whether rewards might be owned by real estate, as he barely noted that the series is based on “coffee art and storytelling† The NFTs will pay tribute to the company’s history – starting with a single store in Seattle and becoming a national brand since then – and will create new images. The company says it will likely use the multi-chain form of blockchain in an effort to remain environmentally sustainable, as cryptocurrencies and NFTs are already known to have harmful effects on the environment.
While the company hasn’t revealed much with its introductory statement, a quick look into Starbucks history can reveal more about their plans for a collection of NFTs. The coffee and tea chain has become one of the two largest in the United States to establish a brand that is more valuable to consumers than just a cup of coffee. Starbucks has been attracting people for years with exclusive designs in its stores and in its physical products. They sell a variety of gift cards with custom art, from limited edition New Chinese New Year cards to gift cards with pop stars on the front. Starbucks also has a line of cans, cups and pitchers that showcase art, including a ‘You Are Here’ series, featuring designs from major cities and iconic locations. While it’s not clear exactly what a Starbucks NFT might look like, customers should expect to see similar art and designs reflected in their physical physical products.
The association and loyalty programs disclosed in the NFT ad will likely be similar to your current Starbucks Rewards program. Currently, the company has an application that gives each user a membership card — just as digital as physical cards — to use in their stores. Customers earn “stars” through qualifying purchases and are eligible for certain free items, such as an annual birthday reward. The star blend may optionally be blended into as small as an extra dose of flavor or as large as a complete drink or sandwich. A Starbucks collection NFTs figure to combine your existing brand with your successful Starbucks Rewards program into a new customer experience.