The global coffeehouse giant, Starbucks, is set to unveil its latest NFT collection, “The Starbucks First Store Collection,” on the Polygon network. This new collection pays tribute to the company’s inaugural store, established in 1971 at Seattle’s iconic ...
The global coffeehouse giant, Starbucks, is set to unveil its latest NFT collection, “The Starbucks First Store Collection,” on the Polygon network. This new collection pays tribute to the company’s inaugural store, established in 1971 at Seattle’s iconic Pike Place Market.
On Wednesday, 5,000 “The First Store Collection Stamps” will be available for purchase, each priced at $100. Collectors owning two or more distinct “Journey Stamps” from Starbucks’ previous NFT venture will have early access to the First Store collection at 9 a.m. PDT. The general sale begins at noon PDT, with a limit of one stamp per person for all collectors.
Starbucks’ previous forays into the web3 domain
This announcement comes on the heels of Nike’s recent entry into the crypto space with its first “digital-creation collection” on the .Swoosh blockchain platform. Like Nike and many other brands, Starbucks is opting for terms like “collection” or “stamp” over “NFT.”
During an earnings call, Starbucks first revealed its plans to explore the web3 domain in May 2022, announcing an NFT collection launch to grant users exclusive content, experiences, and other perks. Starbucks CMO, Brady Brewer, shared the company’s vision to create a “digital third place” and redefine Starbucks community membership through web3-inspired ownership and community-based models.
At that time, Starbucks also announced its collaboration with Nifty Gateway and Polygon. Last month, Starbucks debuted its first paid NFT collection, the “Siren Collection,” which sold out in under 20 minutes. Also, the 2,000-item collection showcased a version of Starbucks’ Siren logo, with stamps priced at $100 each.