- Howard Schultz has made a roaring announcement as he starts his interim phase as the CEO of Starbucks.
- Starbucks has announced the creation of a digital third place as they plan further engagement with their customers.
- They have announced plans for NFTs that will be used for improving customer engagement and community building.
The creation of the digital space has created opportunities for big corporate firms to find unique opportunities to enhance their interaction with their customers and Starbucks has taken an initiative in this regard. The creation of social media has helped them work on improved relationships with their customers, but Web 3 will be a revolutionary change. It will provide an immersive experience to the users who will be able to interact in the unique 3D space.
The management of Starbucks intends to remain relevant in the upcoming Web 3 space and has taken a central place in the ongoing tech discourse. They have announced the creation of NFTs for their customers, who will be able to utilize exclusive benefits through this offer. Also, it will pave the way for other corporate firms to look for solutions in the industry using the latest technology.
Here is a brief overview of Starbucks’ announcement and its implications for other businesses.
Starbucks’ creation of digital third place
The announcement from Starbucks came in a blog by Brady Brewer and Adam Brotman – chief marketing officer and advisor at Starbucks, respectively – who wrote about the upcoming changes. They have announced the creation of a ‘third place’ for users to provide them exclusive services. It will provide the traditional experience in the ‘hyper-digital world,’ helping the users spend quality time.
Starbucks’ management defines it as a digital community that will have global coverage, offering exceptional services to the customers. It will be a digital coffeehouse that aims at providing a space for respite, or it would be a digital alternative to the current coffeehouses. It will benefit from all the modern technologies that will make possible the creation of digital space.
What makes its special connection to the Web 3 is NFTs that would help the users get exclusive membership of this digital facility. According to the developers of this project, the special attraction to them was NFTs which have redefined the concept of ownership. It is a programmable asset that helps identify physical assets and their ownership on the blockchain system. Starbucks will use NFTs for membership in the ‘Third place’ community.
NFTs, Starbucks, and Web 3
According to Starbucks’ third place planning minds, NFTs are the most reliable token for entry into this community. As NFTs have the potential to offer several services to the users, they can be used for the benefit of other stakeholders in the community. The NFTs planned for this project will be branded specifically and offer exclusive experiences and benefits to owners.
According to Starbucks, their 50-year journey has helped with the amassment of assets that would serve as NFTs in the current scenario. The customers would be able to enjoy the rich heritage created as they join this community. The technologies used for third place would be fast and inexpensive for the customers. The developers have ensured that this system is sustainable and beneficial to the customers. They have planned to launch this project at the close of 2022 as the beta project and other experimental phases are completed successfully.
The initial members will form a core community, and further expansion will take place in the upcoming stages. It will also offer an initiative to other companies who intend to enhance the customer experience in the digital space. It has also opened new portals for NFTs as they will find multifold uses in this system.
Starbucks has announced a digital ‘third place’ for interested customers who want to be a part of an exclusive community. It will help bring close customers from various backgrounds as it will be a global club offering exclusive memberships. The members of this community will be able to enjoy the interaction in the digital space, improving the experience of their quality time.