Web3 Will Play A Role In The Future Of Popular Starbucks Rewards Program
According to Starbucks CEO Howard SCHULTZ, Web3 will play a role in the future of Starbucks' popular rewards program. The company will unveil the new digital initiative on September 13 during its annual Investor Day event in Seattle, Schultz said.
According to Schultz, the initiative will allow Starbucks to build on its current rewards engagement model as well as introduce new ways to engage customers emotionally, expanding its approach to the “digital third place community” and offering a broader set of rewards. "Third place" is a sociological term that describes the public space between home and work.
The rewards include unique experiences and Starbucks-branded digital collectibles, both as a reward and as part of community building. However, Starbucks' relationship with Web3 initiatives did not entice employees. In May, during a presentation that included a section on NFTs, an employee who identified himself only as "Mark" and identified himself as a technologist expressed his disagreement with the company's plans, citing the environmental impact of NFTs.