Coffee giant Starbucks plans to enter the NFT business by 2022

En “sometime before the end of this year.” Starbucks will become an NFT business, founder and CEO Howard Schultz said Monday.

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Starbucks the U.S.-listed coffee shop chain, is closely monitoring the evolution of the tokens (NFT) and may soon announce its entry into the growing market.

The world-renowned company expressed interest in the NFT sector for the first time this week and announced plans to enter the sector later this year. The announcement came from the billionaire entrepreneur and founder of Starbucks, Howard Schultz, who spoke during an Open Forum on Monday to a group of more than 10,000 employees.

Schultz, who for many years has been the chain’s CEO and is retaking the position again this April, gave a speech at the event in which he shared his vision for the future of the company just over 50 years ago. During that speech, the founder mentioned NFTs.

“ How many of you have been following what has been going on with the NFTs? “, preguntó Schultz to the audience, and followed up with another question to gauge general interest. “¿ How many people have participated and invested in NFT? “.

The newly appointed CEO then revealed plans to Starbucks to enter the NFT market an area or arena, online or offline, in which commercial dealings are conducted. before the end of 2022. Schultz said the company is in a good position to enter collectibles.

If you look at the companies, the brands, the celebrities, the influencers that are trying to create a digital digital technologies are these electronic tools that have the ability to generate, store or even process data. NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. platform a place to buy, sell and store cryptocurrency and business, I can’t find one of them that has the treasure trove of assets that Starbucks has, from collectibles to the entire equity equity is the funds that would be returned to a company's shareholders if all of the company's assets were dissolved and all debts were paid off in the event of liquidation. of the company.

“ Sometime before the end of this year we are going to be an NFT business. “ added the businessman.

Starbucks to enter NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain).

The news was first shared by reporter Jordan Zakarin, who posted a video of the moment at the conference where Schultz previews the plans. Starbucks also confirmed these objectives in a blog post which transcribes some of the announcements made by the founder during the recent event.

For those of you praying that I was kidding, here’s the video proof.

In an address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. today aimed at unionizing workers, multi-billionaire Howard Schultz revealed that Starbucks is going to get into the NFT business “sometime before the end of this calendar year” pic.twitter.com/Jb2rGjgHj4

– Jordan Zakarin (@jordanzakarin) April 5, 2022

While there is not much information at the moment about the coffee giant’s intentions within the collectibles sector, the development could be related to the future vision of Schultz for Starbucks and the broader ambitions for innovation.

“ We need to reimagine the customer experience. “ said the founder about his vision for the future of the company. Schultz emphasized that the physical experience of people coming to the chain’s stores has changed around the world in the wake of the COVID-19 pandemic and capacity constraints.

“ […]People don’t use our stores in the same way. So all those stores that we have with big lobbies, they may not be as relevant tomorrow as they have been in the past. We have to redefine, redesign our in-store experience. “, Aggregate.

The announcement also occurs when the company enfrenta múltiples desafíos, incluida la insatisfacción de algunos empleados, precios más altos debido al aumento de la inflación y desafíos en su mercado clave de China, como señaló CryptoNews .

Starbucks has not maintained a particularly open stance on digital assets, although the company took a crucial first step in 2021 when it partnered with Bakes to allow close refers to the closing price; similar to the same term used in stock trading. to 500,000 customers could pay for their coffee, sandwiches and other products from the chain with Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. directly from that firm’s digital wallet a place where cryptocurrency users can store, send and receive digital assets. application. The adoption was part of an early cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. integration program.