Starbucks Launches NFT Series ‘First Store’: Only 4579 Sold So Far

On April 21st, it was announced that Starbucks had previously launched the NFT series’ First Store ‘, and currently only 4579 of 5000 NFTs have been sold. Prior to this, the previous batch of NFTs sold out in just 20 minutes. （the block）

Starbucks’ latest batch of NFT series has not been sold out

On April 21st, Starbucks made headlines by announcing the release of their non-fungible token (NFT) series, ‘First Store’. This series, featuring tokens commemorating the iconic coffee chain’s first store, has already sold almost 90% of its 5000 token edition. However, this latest NFT series has not met with the same success as the previous ones, which reportedly sold out within 20 minutes.
In this article, we will take a closer look at Starbucks’ NFT series, ‘First Store’, including what they are, how they work, and the current status of their sales. We will also examine the implications of this release, including the use of NFTs in brand marketing.

What are NFTs?

Before we dive into Starbucks’ NFT series, let’s briefly discuss what NFTs are. NFTs are digital tokens that use blockchain technology to certify ownership and authenticity of a specific digital asset, such as an image or video. Unlike cryptocurrencies like Bitcoin, NFTs are unique and non-transferable, making them valuable for collectors and fans.

Starbucks’ NFT Series ‘First Store’

Now, let’s talk about Starbucks’ NFT series, ‘First Store’. This series celebrates the opening of Starbucks’ first store in Pike Place Market in Seattle, Washington, USA in 1971. The tokens feature an image of the store, along with a QR code that links to a 3D rendering of the storefront.
As of writing, 4579 tokens have been sold out of a total of 5000. This means that only around 9% of the tokens are still available for purchase. While this is still a significant number of tokens, it pales in comparison to the previous Starbucks NFT releases, which reportedly sold out in just 20 minutes.

Implications of Starbucks’ NFT Series

So, what does the release of Starbucks’ NFT series, ‘First Store’, mean for the world of NFTs and brand marketing? Firstly, it highlights the increasing importance of NFTs in the world of digital marketing. NFTs provide a unique way for brands to engage with their fans and collectors, while also creating a sense of exclusivity and scarcity.
Secondly, the slower sales of Starbucks’ ‘First Store’ NFT series could indicate that the hype around NFTs is beginning to wane. While NFTs have gained significant attention in recent months, some are beginning to question their long-term viability.

Conclusion

Starbucks’ NFT series, ‘First Store’, is an intriguing addition to the world of NFTs and brand marketing. While the slower sales of this series compared to previous Starbucks NFT releases may indicate a decline in the hype around NFTs, they still provide an exciting avenue for brands to engage with their fans and collectors.

FAQs

Q: What is an NFT?
A: An NFT is a digital token that uses blockchain technology to certify ownership and authenticity of a specific digital asset, such as an image or video.
Q: How many ‘First Store’ NFTs are there?
A: There are a total of 5000 ‘First Store’ NFTs in the series.
Q: What is the current status of sales of the ‘First Store’ NFT series?
A: As of writing, 4579 tokens have been sold out of a total of 5000.