☕ Smaller coffee shop chains are using the NFT customer loyalty network, much like Starbucks.
While other coffee businesses have long been interested in the technology, the largest coffee company in the world just unveiled a new non-fungible token strategy.
Starbucks and the South Korean coffee company Tom N Toms are the most recent instances of coffee businesses joining the crypto realm.
Starbucks revealed on Monday that it will introduce “Starbucks Odyssey,” a network for consumer loyalty, on the open blockchain Polygon. Polygon is one of the various blockchain networks the Kally NFTs marketplace supports.
Users of the network will acquire non-fungible tokens (NFTs), sometimes known as “stamps,” either participating in games or by making direct purchases. Users may swap stamps for advantages and experiences at Starbucks or transact with one another using them.
Starbucks will enable consumers purchase the NFTs without using cryptocurrencies or cryptocurrency wallets by paying with a credit card directly.
The firm did not disclose the price of its NFTs or the quantity accessible at launch, claiming that such choices are still being made. It also did not specify if it will just debut in a few particular nations. Pre-registration is now permitted; later this year and more generally next year, the platform will be accessible to select users.
According to Brady Brewer, Starbucks executive vice president and chief marketing officer, the introduction of the blockchain-based loyalty scheme is seen as “reinventing the Third Place to suit our consumers.”
Starbucks Rewards members and our partners can engage via distinctive experiences and unite around a shared love of coffee in the “digital Third Place community, enabled by Web3 technology,” Brewer continued.
A sociologist first used the phrase “third place” in the 1980s to describe a casual setting for individuals to congregate and socialize.
Several smaller firms have already dabbled in blockchain while the biggest coffee company in the world stated it is utilizing NFTs.
The New York-based roastery Coffee Bros. introduced the Crypto Baristas profile-picture (PFP) NFT collection last year to aid in funding the opening of its first café in the city and provide owners with offline benefits.
Since then, the Crypto Baristas NFT project has launched an endeavor to improve the transparency and sustainability of their coffee company.
More recently, the South Korean-based chain of coffee shops Tom N Toms Coffee, which has over 500 locations worldwide, revealed plans to establish TOMS NFT, its own NFT market, on September 20.
Blockchain technology is already ingrained in the Korean coffee shop brand. It released its own utility token, TomTom Coin, in January (TOMS).
The TOMS token was developed to reward the cafe’s patrons and serve as a payment method, much to Starbucks’ NFT strategy. Since then, the token has been listed on significant cryptocurrency exchanges including Coinbase and Binance.
According to TomTom Coin’s website, “The TOMS project was launched so that the Tom N Toms brand would not be restricted to being merely a coffee shop, and will become a lifestyle leveraging blockchain and crypto technology.”
About Kally ♾️
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