Starbucks CEO Howard Schultz says Web3 will be part of the future of Starbucks’ popular rewards program.
“We have been working on some very exciting digital initiatives. It builds on our existing industry-leading digital platform in innovative ways and, most importantly, loyalty,” Schultz said during the company’s Q3 2022 earnings report on Tuesday.
According to Schultz, the company will launch a new digital project on September 13 during the event. Investor Day Annual in Seattle
CEO said These awards include a one-of-a-kind experience. and Starbucks digital collectibles that are both rewarding and community building elements.
“This creates a whole new set of digital network effects. This will attract new customers and promote existing customers in our main stores,” he said.
Starbucks first entered the blockchain world four years ago with a traceability program to support smallholder farmers.
Whether or not customers, employees, or investors will embrace this latest yet-to-be-seen initiative of Web3, Schultz puts this in place as one of the big changes planned for the company.
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