Exciting news for Starbucks Rewards members: TechCrunch reports that the chain appears to be inching even closer to adding NFTs to its rewards program.
After previously revealing plans to create a series of branded NFT collections, Starbucks interim CEO Howard Schultz shared last week that a "new digital initiative" is on the way.
"We have been working on a very exciting new digital initiative that builds on our existing industry-leading digital platform in innovative new ways all centered around coffee and, most importantly, loyalty that we will reveal at Investor Day," said Schultz during an earnings call with investors, according to TechCrunch.
Although Schultz was fairly brief with his remarks about the digital initiative, he did inform investors that the program seeks to engage rewards members by introducing one-of-a-kind experiences and Starbucks-branded digital collectibles
"We believe this new digital Web3-enabled initiative will allow us to build on the current Starbucks Rewards engagement model with its powerful spend-to-earn Stars approach while also introducing new methods of emotionally engaging customers, expanding our digital third place community, and offering a broader set of rewards, including one-of-a-kind experiences that you can't get anywhere else, integrating our digital Starbucks Rewards ecosystem with Starbucks-branded digital collectibles as both a reward and a community building element," he shared.
For eager Starbucks Rewards members, Schultz is expected to spill the tea, or more appropriately, the coffee, on Investor Day, which will take place on September 13.
