Starbucks CEO Howard Shultz, who got back to his position last month after handing it to Kevin Johnson in 2017, announced that they’re planning to enter the metaverse by launching NFTs this year.

The company head made the announcement in front of 15,000 people, mostly are Starbucks employees.

Shultz revealed a couple of his visions for the company, including its plans to ride the hype of NFTs and the metaverse in an attempt to put their name in the virtual world.

Pertaining to the use of NFTs, the Starbucks CEO said: “If you look at the companies, the brands, the celebrities, the influencers that are trying to create a digital NFT platform and business, I can’t find one of them that has the treasure trove of assets that Starbucks has from collectibles to the entire heritage of the company.”

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The chairman also bragged about how the company is well-equipped with the right knowledge and resources that are needed to enter the virtual ecosystem. While the idea has been announced, Shultz hasn’t provided an exact release date just yet.

The types of NFTs we can see from Starbucks are yet to be known. As you know, virtual products are only accepted and not tangible goods like a cup of coffee.

Whether an NFT makes sense for the company or not is yet to be seen. But considering all the hype surrounding the ecosystem, it should benefit the prominent coffee house marketing-wise.



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