Starbucks is investing in the NFT by 2022, says Howard Schultz, the company’s chief executive officer. He says the company plans to invest in the nft by 2023.
Schultz returned to Starbucks as interim CEO last month after previously serving as CEO and executive chairman. He was previously the company’s chief executive officer and chairman before returning to the company as interim chief executive.
Starbucks is uniquely positioned to succeed in blockchain technology, says Schultz. He says no one, brand, celebrity, or influencer trying to develop an NFT for digital has the treasure.
Starbucks has already begun testing blockchain technology. Bakkt allows users of its iOS app to top up a Starbucks card. Bakkstarbucks and Microsoft recently announced a blockchain coffee traceability partnership.
The partnership lets customers track their coffee from bean to cup. Mcdonald’s joins the NFT bandwagon by creating limited edition nfts. The limited editions feature the McRib logo and a limited edition t-shirt. In the food industry, the company is a major player in the creation of limited-edition nft products.