Starbucks is stepping into the NFT Business this year

The Chief Executive Officer (CEO) of Starbucks, Howard Schultz announced that this year the popular coffee retail company will step into the Non-Fungible Token (NFT) business. He announced this while he was addressing the requirement to redefine the experience for customers and employees alike in engaging with the coffee chain. Starbucks in its statement said that it is currently working on "digital innovation through NFTs," along with other initiatives, and expects to reveal details in the coming weeks. On Monday, at the company’s Open Forum. Mr. Schultz said: "Sometime before the end of this calendar year, we are going to be in the NFT business.” According to a report from Nonfungible.com, the NFT market made significant strides in 2021. Its trading volume surged from a mere $82 million in 2020 to $17.6 billion in 2021. Howard Schultz further said: "If you look at the companies, the brands, the celebrities, the influencers, that are trying to create a digital NFT platform and business, I can't find one of them that has the treasure trove of assets that Starbucks has – from collectibles to entire heritage of the company.assets that Starbucks has”