Starbucks is about to enter the metaverse. The CEO didn’t provide many details, but whatever it is will be completed in 2022.
On April 4, Howard Schultz, the billionaire founder and CEO of Starbucks, revealed in an Open Forum that the firm intends to enter the NFT market by the end of 2022. This news was verified by Starbucks a few hours later.
In an effort to continue its global expansion, the firm will establish a new subsidiary in the NFT market. The company has not yet announced when it will enter the NFT sector, but CEO Schultz stated that it would be “sometime before the end of this calendar year.”
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During his speech, Schultz asked the crowd how many of them were familiar with NFTs. He also inquired about how many people in the audience had worked on or invested in NFTs before. Even though everyone was quiet, Schultz said that the ecosystem was still developing and that Starbucks had the best tools and resources to get started.
“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.”
Starbucks’ newly appointed CEO wants a crypto-friendly Starbucks. Sponsored NFT drops and metaverse-related collaborations are on the way.