Starbucks plans to integrate customer reward program into Web3

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The American coffee chain plans to launch a new Web3 rewards program to attract and retain customers.

Acting Director of Starbucks,owner of a chain of coffee shops around the world, Howard Schultz explained that the company will soon introduce a new digital initiative that will expand its loyalty program:

“The new initiative with Web3 support will allowWe need to build on Starbucks Rewards, a model for interacting with customers where they earn stars. And also introduce new methods of emotional engagement.”

The network is considering integrationa functioning ecosystem with Starbucks-branded digital collectibles as both a reward and a social component. According to Schultz, a full announcement will take place on September 13.

The top manager added that the transition to Web3is part of an effort to attract and retain a younger portion of the customer base. According to him, Starbucks doesn't want to be in a business where its established customer base inevitably ages and younger generations of coffee shop fans gradually forget about the franchise.

In April, the company announced the release of its own collection of non-fungible tokens (NFTs) before the end of 2022. However, these plans have not yet been revealed in more detail.