- Starbucks has turned to Polygon NFTs in its sustainability push.
- The initiative would see the firm integrate an NFT wallet with its app.
- The firm also intends to hold an in-person exhibition.
In December 2022, multinational coffeehouse chain Starbucks made its first foray into Web3, seeking to expand customer experience and revolutionize customer retention through NFT-based loyalty programs on Polygon. About a year and two successful NFT collections later, the firm is now looking to leverage the technology again to bolster sustainability goals by incentivizing eco-friendly customer practices.
Starbucks × Polygon: Green Cups, Digital Roots
Amid growing concerns about the environmental impacts of human and industrial actions, several companies, including Starbucks, are trying their best to present an eco-friendly image by cutting back on their waste. For Starbucks, a big part of this has been trying to steer its customers away from disposable cups. In its latest effort, the firm has turned to NFTs.
In a company statement on Thursday, December 21, Starbucks Korea announced that it would start issuing NFTs in mid-January 2024 to Incentivize customers to use reusable cups.
As part of the initiative, the renowned coffeehouse said it would launch an NFT wallet within the Starbucks app. The firm explained that users who ordered drinks using reusable cups with Siren Order would be able to accumulate up to three “eco-stamps” per day, which they can later exchange for an NFT to be held within the NFT wallet, with a limit of one NFT per customer.
Sharing local news coverage of the announcement, Polygon co-founder Sandeep Nailwal asserted that these NFTs will be issued on the Polygon network like previous Starbucks mints. Starbucks VP of Loyalty Ryan Butz once hailed Polygon for its fast, low-cost, and carbon-neutral network.
The new Starbucks NFT collection will be developed with Print Bakery, one of South Korea’s largest art platforms, and “DADAZ,” a prominent NFT artist. According to the firm, the NFTs will feature colorful images using cups and tumblers with the theme “my only cup in the world.” These NFTs will be classified as Basic, Creative, and Artist.
In addition to the NFT mint, Starbucks intends to host an in-store exhibition to showcase the NFTs and the firm’s sustainability achievements at the Jongno R store in Jongno-gu, central Seoul.
Starbucks has yet to return a DailyCoin request for comment at the time of writing.
On the Flipside
- NFT issuance is only one part of the Starbucks’ sustainability initiative. The firm also offers a complimentary beverage voucher, which it plans to rename as Eco Tumbler Beverage Coupon in January 2024, to customers who purchase reusable cups. As explained by the firm, customers can exchange these coupons for a tall-sized beverage of their choice.
Why This Matters
With over 32,000 stores serving over 100 million customers weekly, Starbucks is one of the largest coffee businesses worldwide. The decision of its Korean arm to utilize NFTs in its push to become more eco-friendly demonstrates the diversity of use cases, promising growing adoption.
Read this to learn more about Polygon’s partnership with Starbucks:
Starbucks Teams Up with Polygon (MATIC) to Launch Starbucks Odyssey NFT
Find out the latest on the Ethereum Dencun upgrade:
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