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Starbucks’ Entry into NFT Market Causes Frenzy, Sells Out in Minutes ☕️

Rahul Kaushik
.
Web 3.0 Research Analyst
Written by
Rahul Kaushik
Published on
March 15, 2023
Read time
3 min read
Category
NFT
March 15, 2023

Find out the full story in our weekly NFT Newsletter 👇

Headlines 📰

  • Messi Enters the World of Web3 Gaming with Latest Investment
  • Ethereum Unveils ERC-4337 — A Game-Changing NFT Standard
  • Starbucks’ Entry into NFT Market Causes Frenzy, Sells Out in Minutes

Messi Enters the World of Web3 Gaming with Latest Investment

Matchday, a Web3 mobile gaming startup, has secured a $21 million seed fund investment from Lionel Messi, widely regarded as the greatest player of all time. Messi’s venture capital firm, Play Time, is backing the soccer-focused gaming company, which holds official licenses from FIFA and the FIFPRO players association.

Messi, who recently led his country to a historic World Cup victory, is making significant strides in the Web3 arena. He has previously partnered with Eternity Chain to create NFTs and serves as the brand ambassador for Sorare, the NFT fantasy soccer giant.

Matchday aims to create a suite of games for casual gamers worldwide, with its first release slated for the second quarter. According to co-founder Nick De Halleux, the company’s games will be accessible to all and will focus on true ownership of digital items, which will serve as a source of pride for players. This mobile gaming platform has the potential to be a game-changer, with Messi’s investment serving as a vote of confidence in its success.

Ethereum Unveils ERC-4337 — A Game-Changing NFT Standard

Image: beincrypto.com

On March 1st, Ethereum unveiled its latest upgrade to the NFT token standard at ETHDenver — the ERC-4337. The aim of this new standard is to enhance the interoperability and user-friendliness of NFTs on the Ethereum network, which is the world’s leading blockchain platform for decentralized applications (dApps). The ERC-4337 is designed to make NFTs more accessible to non-crypto natives.

Proposed by Ethereum co-founder, Vitalik Buterin, and others in September 2021, the ERC-4337 standard builds on the widely-used ERC-721 and ERC-1155 tokens. Its focus is on improving accessibility by providing benefits such as lost key recovery, the ability to opt-out of seed phrases, and gasless transactions. It’s designed to simplify the process of creating wallets for buyers and sellers, making it more attractive to a mainstream audience.

By providing a new level of usability for digital collectibles, ERC-4337 is set to become the new standard for high-value NFTs on the Ethereum network. This standard has the potential to make NFTs more user-friendly, allowing more people to participate in the exciting world of blockchain-based digital assets.

Starbucks’ Entry into NFT Market Causes Frenzy, Sells Out in Minutes

Image: nftnewstoday.com

Starbucks, the popular coffee chain headquartered in Seattle, has made its foray into the NFT market by launching its first paid collection of non-fungible tokens. Dubbed as “Journey Stamps,” these NFTs were sold at $100 each and were sold out within 20 minutes of their release.

This launch is part of the company’s new membership program, Starbucks Odyssey, which aims to provide members with exclusive coffee experiences and perks. Those who have purchased Starbucks’ NFTs can use them to upgrade their membership tier and receive additional benefits, including virtual classes, merchandise, and a chance to visit a Starbucks coffee farm. Furthermore, buying an NFT also grants members extra points that they can use to level up their membership status.

It’s possible that Starbucks is using NFTs as a means to transform itself and connect with customers in novel ways. The company’s CEO, Kevin Johnson, has initiated a “reinvention plan” focused on achieving accelerated earnings growth in the next three years. This plan centers on boosting comparable store sales growth, increasing store count growth, and maintaining margin expansion.


NFT Statistics 📊

  • NFT Collections with Highest Sales
  • Top Sales of Individual NFT Collectibles
  • Blockchains with the Highest Sales Volume
  • Top NFT Marketplaces Based on Volume

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Rahul Kaushik

Rahul is a former software engineer who is now a writer. After working as a full-stack developer early in his career, he realized that coding was not his forte and began writing blogs, poetry, and articles for sports magazines. He is always torn between Football and Bitcoin as his first love. In his spare time, he enjoys reading books on economics, startups, and business, as well as educating people on personal finance, cryptocurrency, and Web 3.0 on Instagram.

Rahul Kaushik

Rahul is a former software engineer who is now a writer. After working as a full-stack developer early in his career, he realized that coding was not his forte and began writing blogs, poetry, and articles for sports magazines. He is always torn between Football and Bitcoin as his first love. In his spare time, he enjoys reading books on economics, startups, and business, as well as educating people on personal finance, cryptocurrency, and Web 3.0 on Instagram.

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