One of the biggest brand names to grace the NFT market is certainly Starbucks.
While it is fun to talk about fantasy sports and endless opportunities that can be implemented using NFTs in gaming, the true value-generating use case proposed by any participant of the market is the loyalty program by Starbucks with the ability to use NFTs in various ways to benefit from special discounts, promotions, and unique events.
You can already buy some Starbucks NFTs
The currently existing Starbucks Rewards system which has millions of users globally will be enriched with NFT offerings.
Employees and clients can acquire tokens to purchase digital collectibles giving perks and the right to participate in tiered loyalty promotions. Tokens are issued by a Polygon-based network.
The announcement was made in September with many users of the rewards program reporting that they were offered to buy tokens during the beta phase that has already begun.
The whole program is designed to be more than just a simple loyalty program that you can find in any franchised coffee brand app.
Instead, NFTs will give users a way to meaningfully participate in various digital and real-life activities that are planned to be implemented in the user experience associated with NFTs.
Users will be able to receive unique gifts created in collaboration with artists, purchase special merchandise, and participate in gamified events that are called “journeys” with tangible prizes and discounts as main attractions.
Opponents of the idea are saying that these things could be achieved without using NFTs as the foundation, but non-fungible tokens provide more than just a way to manifest that you are part of the loyalty program.
There will be other benefits and merch associated with owning a unique token.
Is it the future of NFTs?
One of the biggest flaws of the NFT concept is that many people are trying to justify their value without providing any substantiated evidence that these tokens will be useful or worthy of paying for in the distant future.
Practical use cases are a much better angle to approach the concept.
Companies like Starbucks, Disney, Nike, and FIFA are already diving into the idea of using NFTs to bolster their public relations and client retention. It looks like a good direction to take.