Starbucks gives clues about the near future: it will launch exclusive collections of NFT’s
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Aware that life is expanding to digital spaces and that the so-called “third place” is no longer just physical, the company proposes the creation of exclusive collections of NFT’s to foster a sense of community around the brand.
The success of Starbucks is based on the concept of the “third place” that place that is right between home and the workplace; an extension of people’s lives in which they feel comfortable. The term was coined by sociologist Roy Oldenburg in his book The Great Good Place in 1989 and was embraced by Howard Schulz , the CEO of Starbucks since 1986, after visiting espresso bars in Italy and thinking about adapting them to the North American environment.
That “third place” is not only a physical space, but also a community where, according to Oldenburg, “those facing common problems find common ground, give substance and articulation to group sentiment, and offer social support to one another.” ”.
With the advent of virtual worlds and metaverses , those spaces are changing. What used to happen on the physical plane is beginning to happen in digital environments, and Starbucks seems to have already realized this. In a post on the company’s blog Brady Brewer , chief marketing officer, and Adam Brotman , counselor, explain: “While ‘Third Place’ has often been described in physical terms, a place between home and work, its essence has always been the feeling of connection and belonging it provides. But in the hyper-digital age we live in, the community connection that Starbucks has always created is just as powerful.”
The authors explain that the brand is already working on the creation of a global digital community that revolves around coffee and that can expand to other areas in which Starbucks has participated, such as music, art and books. “What if we could create a growing business, adjacent to our stores, that would ultimately benefit our partners, the community and the business? What if we could do it using technology that supports our commitment to sustainability?”
What they talk about is the creation of NFTs and the potential they have to foster consumer loyalty towards a product. In a Howard Schulz Q2 earnings presentation meeting with the company’s investors, the CEO also addressed the issue, speaking of “new concepts of ownership and membership models developed in Web 3.0.” Let us remember that Web 3.0 incorporates block chain technology and allows the storage of user data in a decentralized manner.
The post explains that the company is indeed working on the creation of various collections of NFT’s that encourage the creation of a community and will provide access to various benefits and experiences for their owners: “We plan to adopt a phased approach, willing to move fast, experiment, learn and collaborate. We plan to kick off our first NFT collection, membership, and community later this year, based on coffee art and storytelling. It will come loaded with a host of unique experiences and benefits worthy of Starbucks’ first NFT collection. This first collection will form the core digital community and backbone on which we hope to build future collections and collaborations, all based on the same new ecosystem.”
Starbucks joins other companies that are experimenting with incorporating NFT’s into their marketing strategies.
