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Category: #starbucks

  • Starbucks Launches NFT Collection

    Starbucks, one of the world’s largest coffee chains, is stepping into the world of non-fungible tokens (NFTs) with its latest release, The First Store Collection. The collection comprises 5,000 NFTs in the form of digital stamps that were launched on the Nifty Gateway platform and minted on the Ethereum scaling network Polygon.
    Priced at $100 each, the NFTs are selling out fast, just like Starbucks’ previous NFT drop in March that sold out within minutes. The purchase of each NFT also earns buyers 1,500 points towards rewards within the Starbucks Odyssey app, launched in 2022.
    The move into NFTs marks Starbucks’ entry into web3 technology, recognizing its potential to tap into new user segments and revenue streams. By integrating NFTs and blockchain technology, Starbucks is creating a new way for customers to engage with the brand and its rewards program.
    The First Store Collection is a tribute to the company’s first-ever store located in Seattle’s Pike Place Market. The NFTs feature original artwork that depicts the iconic storefront and pays homage to Starbucks’ rich history.
    As more and more companies experiment with NFTs, Starbucks’ entry into the market is a significant move that showcases the mainstream adoption of this new technology. With Starbucks leading the way, we can expect more brands to follow suit and explore the endless possibilities of NFTs.

  • Starbucks, McDonald’s are testing digital Yuan

    JUST IN: Chinese Central Bank to Launch Digital Currency Called "DCEP"

    Starbucks and McDonald’s are reportedly among 19 restaurants
    and retail shops that will be involved in testing China’s central bank
    digital currency (DCEP) in the country’s Xiong’An new district. The
    move signals China’s wider efforts to test the digital currency
    project, with state-owned commercial banks already developing
    wallet applications for the digital yuan, also known as DC/EP.

    The DCEP, used for consumption only in the first phase, works in
    the same way as a consumption coupon. On top of traditional
    payment applications such as Alipay and WeChat Pay, users will be
    able to pay by DCEPs in their DECP wallets. The DCEP will provide
    a more direct and effective monetary tool for PBoC to provide
    financial support to certain industries. A wider use of DCEP makes
    monetary easing more feasible in a broader context. The cost of
    monetary easing will become lower but the efficiency will be
    higher. The introduction of DCEP is expected to challenge the
    oligopoly of Tencent and Alibaba in the digital payment space.
    The key advantage of DCEP is that the payment does not require
    an internet connection, which indicates the potential for broader
    use in remoted areas of China.

    https://www.coindesk.com/starbucks-mcdonalds-among-19-firms-to-test-chinas-digital-yuan-report