On Tuesday, Starbucks announced plans to create a digital community Web3 platform, including the release of non-fungible tokens (NFTs).
The coffeehouse chain intends to bring its ‘third place’ concept – a place to relax between home and work – from the physical world into the digital world, extending its loyalty experience.
Yesterday CEO Howard Schultz indicated that Starbucks is moving away from the third-place concept for its physical stores due to changes in consumer behavior following the pandemic. The coffeehouse chain will focus more on drive-through sales in the physical world while creating a digital third place community.
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