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Starbucks joins the NFT army and wants to use Web3 to leverage new growth points
After hinting at Web 3 as early as May , Starbucks is finally bringing its plans to fruition .
Recently , Starbucks unveiled a new membership system " Starbucks Odyssey " ( Starbucks Odyssey ), which will allow customers to purchase and obtain " digital stamps " in the form of NFT , and enjoy corresponding benefits and rights . Starbucks is confident that the program will bring a "revolutionary" Web 3 experience to its members .
It is reported that Starbucks chose to use the blockchain technology provided by the Ethereum sidechain Polygon to start the program . Polygon is compatible with the Ethereum ecosystem , but compared to the congestion of the Ethereum main network , Polygon transaction speed is faster and the cost of use is lower .
Specifically , “ Starbucks Odyssey” is more like an upgrade of the previous Starbucks Starbucks members . Currently, only Starbucks members in the United States can submit a waitlist .
In the new "Odyssey" system , Starbucks members, partners and even employees can obtain NFTs, and these NFTs not only support transactions and transfers, but also represent corresponding Starbucks benefits . Starbucks offers a range of membership benefits such as online coffee-making tutorials , artist co-branded merchandise, and invitations to exclusive events at Starbucks Reserve Roasteries and even trips to the " Starbucks Hacienda Alsacia " coffee farm in Costa Rica .
It is worth noting that Starbucks has lowered the threshold for its members to enter the Web 3 world . In Starbucks ' built-in NFT market , members can directly use credit cards to purchase NFTs without registering cryptocurrency wallets .
Brady Brewer, Starbucks executive vice president and chief marketing officer, was full of praise for the company's new membership system : "Leveraging Web3 technology will allow our members to gain experiences and ownership that were previously unavailable." He added " Our entry into the Web3 space is unlike any other brand, helping to deepen the connection between members and Starbucks, " said Mr.
Starbucks is not the first brand to bind NFTs to a membership system. The full name of NFT's biggest trendy brand "Boring Ape" is "Boring Ape Yacht Club", and only if you own this NFT can you automatically become a member of its club.
The uniqueness and uniqueness of NFT based on mathematics is naturally consistent with the current popular membership system, but the success stories of several other star companies in the United States may be the real reason why Starbucks embraces Web 3 .
NFT has become one of Nike's fastest growing new businesses . According to Dunn Analytics, Nike topped the list of the highest-grossing NFT brands, with cumulative sales of $185 million. According to the financial report, Nike Digital , which includes the NFT business, is the fastest-growing segment of Nike’s market business, accounting for 26% of Nike’s brand revenue.
Another business league, the NBA, also relies on NFTs to make a fortune. According to Cryptoslam data, the total sales of NBA Topshot NFT this year has exceeded 1 billion US dollars, and the transaction volume has also exceeded 20 million, becoming the sixth NFT project in the world to exceed 1 billion US dollars . The American fashion giant Tiffany also won its first battle after entering NFT recently , and its NFT jewelry series revenue reached 12.62 million US dollars in just one month .
Based on the NFT ecology, giants are exploring new consumption growth points, and Starbucks obviously does not want to miss this opportunity.
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