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As more companies in the United States have begun investing in non-fungible tokens, the world’s largest retailer of coffee, Starbucks also joined the bandwagon. https://twitter.com/jordanzakarin/status/1511173530699898885
Starbucks Steps Into The NFT Space
The American multinational chain of coffeehouses has been planning to become the newest entrant of the non-fungible token (NFT) business by the end of the year as stated in a blog post shared by Starbucks. American businessman and the Chief Executive Officer of the Starbucks Coffee Company, Howard Schultz announced the news on Monday, claiming to be planning and strategizing for the end of 2022. During a discussion over non-fungible tokens, Howard Schultz stated,
"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."
The announcement of the worldwide successful and popular business comes after the multinational brewery reported facing challenges. These include dissatisfaction among employees, disappointed consumers due to skyrocketing prices due to rising inflation, and hurdles in the China marketplace.