Starbucks To Step Into Metaverse This Year, Howard Schultz Confirms

• Starbucks is all set to enter metaverse sector this year, not much details were unveiled, but it is anticipated that this move is going to happen at some point this year.
• If the organization makes up its mind then it is possible they may create one of the greatest NFT marketplaces on the globe.
• Howard Schultz was appointed as a new CEO of Starbucks, which increased the possibility of the organization to become more crypto-friendly.

Another Addition To Metaverse On The Way This Year

Howard Schultz, Starbucks CEO and billionaire entrepreneur made an announcement during an Open Forum that organization is making their moves to enter NFT space before this year’s end. Organization itself confirmed this big news.

Although no exact date was offered regarding Starbucks’ foray into this space, but he gave assurance that this is going to happen at some point this year.

During his speech, Schultz asked the folks that how many of them are aware of NFTs. He also made inquiries as to how many of them are engaged with activities of the space and if they have made investments.

Even though there were no responses regarding this, Schultz elaborated that ecosystem is young and that Starbucks have the best collection and tools to step into this space.

He said, If you witness the organizations, celebrities, brands, influencers that are making efforts to create a virtual NFT platform and business, there’s no single person with a treasure trove of assets which Starbucks has from collectibles to the whole organization’s heritage.

Latest appointment of Schultz as Starbucks CEO may render the organization more crypto-friendly. It is vital to note that other major firms are not just sponsoring NFT drops but also making latest cryptocurrency experiences such as stores in metaverse or collaborating with other cryptocurrency projects.

What Does This Mean For NFT Sector?

As Schultz indicated while talking, Starbucks is not only a beverage brand but an organization with a myriad of history, collectibles and tradition found all across the globe which a virtual artist could not compete against.

That is to say, if the organization sets its mind to it, it may even create the greatest NFT marketplace on the globe. Even if they have to collab with other mammoths of the industry such as Budweiser, Coca-Cola or Pepsi-Cola, the size of the window here could be massive, considering these brands are already utilized to please their client base with collectibles such as bottles, cans and favorite beverages’ special edition.

Starbucks net worth is around $96.7 Billion, while OpenSea stands with $13.3 Billion. Unsurprisingly, huge organizations want to begin making investments in these latest techs.

And there is plenty of room when it comes to developing business opportunities associated with NFTs as well as metaverse. Just for reference, Citibank thinks of metaverse as a $13 Trillion opportunity, making Starbucks’ net worth pale in comparison.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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