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Hello everybody it’s a great day living The Brett way because one of my favorite Brands Starbucks is entering web 3 and has an Nft strategy tied to their rewards Programs in the works and that’s really Exciting because I’m a big fan of stars And I like Starbucks rewards programs And nfts are a perfect match for rewards Programs so I wouldn’t really want to go In deep on why nfts and rewards programs Are the best extension possible so the Rewards program itself Works seamlessly Makes a lot of sense but it’s really Linear right now meaning if you want to Earn starb’s points or I think they’re Called starbs yeah starbs okay you want To earn them you spend five dollars you Get Five Points spend five dollars get Five points and it’s very linear meaning There’s only really one way to earn them Of course they’ve done some like random Promotions you can get some bonuses but For the most part it’s very linear and It’s kind of weird because you have such A broad customer base and you’re serving All of them the same way among the same System but nfts will actually allow you To have a much more Dynamic relationship With different segments of customers for Example if you’re someone who makes like A million dollars a month you’re Spending 10 bucks a day on your coffee Every single day you don’t care about
Getting a free cup of coffee at the end Of the week you’re not thinking about it It has no change in your day-to-day life Where if you’re someone who’s a huge fan Of Starbucks you know everything about Them but you don’t have as much money You can only get Starbucks lunch or Twice a week and that free cup that you Get once a month is really big and Probably the best part of your week and So this is really interesting how nfts Could change this dynamic because if you Actually Implement nfts into this on top Of their loyalty program that exists Right now you’re going to be able to Actually appease both sides much more Time efficiently as well so let me kind Of explain how this happened so Way back in the day over a year ago we Did this thing called shroom Scouts for My project one of my very first nft Project where we wanted to teach people How to participate in a decentralized Community and so every single week we Set out a specific amount of tasks and If they did those tasks on time that Week they earned a badge each badge in And of itself was an nft and if you Collected all five badges you could Actually use them to claim what we call An ancient and these ancients were Basically the people who had proven that They’re the most loyal customers or most Loyal community members I should say and
Were actually wanting to contribute to The community the most and if they own This nft they actually got a vote on What the project did so loyalty programs Do this already but this nft will Actually incentivize people to learn so These badges incentivize people to learn How to participate in a decentralized Community with the goal to actually give Them the opportunity to participate and Run a decentralized community so Starbucks will be doing the same thing But with their product mix and their Product lines which is really cool Because if you’re someone who is a fan Of Starbucks gets it every single day You might not know about what merch they Offer you might not know about their Upcoming uh Nespresso partnership or These different product lines that they Have and are implementing into their Brand and their business and so Sometimes you might not be interested to Learn about it you’re just like give me My cup of coffee I’m gonna drink it go To work I don’t care about this other Stuff but there’s a lot of people who do Care about the brand and if you actually Incentivize them AKA you give them a Reward an nft then they’re going to go Through this process and so what Starbucks is doing is they’re creating This Starbucks Odyssey program and They’re actually rewarding people with
What they’re calling stamps and so They’re going to put people through Different experiences different Processes like educational experiences Where they can actually go through this Learn about how the coffee’s made and Maybe subtly learn about other product Lines or product mixes and if they go Through this like 15 minute article and Then answer a few questions they can Then get a stamp and claim a stamp and What can happen with these stamps is you Can actually set these out much like Those classic uh major Savers or those Other old school marketing tactics where You had like the tin uh come into the Coming to a restaurant nine times your Tenth time is free get donuts nine time Your 10th Donuts free whatever it was This is kind of what they can do but With these stamps digitally on a Blockchain I’ll get to why that’s Important but first imagine every single Month Starbucks is doing this initiative They’re calling them stamps maybe they Could do passport theme all around the World and the first month is like Learning about where the coffee beans Are sourced the second month is how They’re processed the third month is how You actually what Machinery you use in Over 12 months you’re learning all these Different processes where now you Actually know all the different details
On how coffee is made well magically at The end of this 12 months one Starbucks Could then roll out this whole new Product line giving you each one of Those pieces that you need to actually Brew your own Starbucks coffee at home The right true way so you’re priming and Educating your audience while Simultaneously giving them nfts okay so At the end of those 12 months now you’re Like okay well what if you only did it For like three months what’s the point You don’t really care about learning how To grow coffee well this is what’s Really cool they can do something Completely different but still tie value Back to each one of those nfts so maybe I was too busy I I make a lot of money Whatever it is I don’t have time I don’t Care about learning but what Starbucks Can do is say hey if you have all 12 Stamps you could actually burn them all Merge them and get a golden Starbucks Pass and if you have this golden Starbucks pass you get to go on an all Expenses paid trip down to South America Where the coffee is sourced I’m guessing I made that up I don’t know where it’s Sourced where the coffee is sourced And get a full in-person experience from The best coffee makers in the world Fresh super cool experience on top of That you’re going to get exclusive perks To all Starbucks in the world you get
Priority Access in line if you get a Mobile order yours goes through Immediately you get discounts whatever It may be there’s so many different Examples of how they can do it you get Free Nespresso pods they have so many Different products they can do so many Things but the point being is that each One of these individual nfts that you Have to use or that you had to earn or That you’ve earned by this educational Process you earned and if you want that Pass someone’s going to need all 12 of These and if they only earn eight they Have to go get the other four well since They’re nfts they’re transferable that Means you can sell the nft to the person Who only has eight and you could Actually sell them the other four Because you’re not interested in the Past and you just want to make some Money for your time put in and so this Is a really cool concept at heart Because it allows you to prime your Audience teach them about a new product Line you have coming out while Simultaneously rewarding them in the Show short term and if they don’t care About the product they were just doing It for the nft they can just sell it to Another passionate fan who’s Rich has The money and didn’t want to pay their Time and so this makes the Loyalty Program beneficial and actually gives
The incentive to the consumer and Actually gives them the financial Benefit for participating in this Ecosystem because right now if you have A starb you could again five bucks Five Points five bucks Five Points you have To spend a lot to win and that’s not as Beneficial to everybody in your base as Well as that doesn’t create opportunity Or benefit because you can’t take those Starves and give them to a friend you Can’t take those startups and do Anything else with it it’s only Benefiting you and it’s only benefiting You if you spend more and so this Creates a lot of different Interdynamics That creates a better experience for Them to be able to identify their most Loyal customers introduce new products Incentivize them to learn and also allow Their customers to financially benefit By owning these nfts that they can Continue to put more and more value in The best example that I can use for this Concept is like a Louis Vuitton or High-end fashion brands where basically They can say hey we’re going to make 100 Nfts if you own this nft every single Three months we’re going to launch an Exclusive item so for the first launch We’re going to do an exclusive belt There’s only going to be 100 of these Belts ever and only nft holders can get It okay so what’s going to happen is
They’re going to sell those 100 belts at Retail for around a thousand bucks but You know that’s scarcity that’s Everything in the high-end fashion Industry is all about how few limited Edition drops there are and so if you Own this nft you bought this belt for a Thousand dollars it’s immediately going To go on sale on secondary for ten Thousand dollars so you just made ten Thousand dollars or nine thousand Dollars profit by owning this nft Essentially or you have one of the most Rare belts in the world which is what a Lot of these people spending this type Of money care about more so than the Financial value it’s the status it’s the Flex it’s the exclusivity I have it you Don’t and so if Starbucks or not Starbucks if Louis Vuitton did that and They said we’re gonna do it every three Months now people are going to start Projecting the floor price of the nft Four five six launches out okay well This launch made me nine thousand Dollars the next one’s going to make me Nine thousand dollars and the next one So now the floor of the nft is going to Start going to Thirty forty thousand Dollars based on the free Market’s Speculative view of this value of this Nft because of what you could actually Get from the drops only for holders and The best part is this process is really
Easy for businesses to implement If you own the nft all you do is you go To the website connect your wallet if One of those 100 nfts are in your wallet Blockchain is going to automatically Verify you’re the true authentic owner Of the real nft Louis Vuitton collection You now have access to place your order One per nft the second you order it it Gets updated into the metadata at the Nft everyone knows that drop was burned You used it you put your address in you Pay with credit card pay with ethereum Pay with whatever you want and now you Get that belt shipped to your house easy As that all automated all in the Blockchain and everybody can see it There’s no questioning you’re the owner Of that nft and that now exclusive belt I’ll save that concept down for the line But understand that that’s what Starbucks is going to be able to do and Last thing I really want to talk about This is guys Starbucks is known for Being ahead of the herd with technology Adoption one of the first companies to Put Wi-Fi in their restaurant so people Would spend more time in the restaurants Incentivize people to come in for Different reasons and then just spend More at the restaurant again one of the First actually uh create mobile ordering And mobile paying very first one of the Very first to start letting people pay
On a mobile app in order on a mobile app Very Innovative so the fact that they’re Seeing this value with the nft and with Web3 technology is very very exciting Not only that the person who created the Loyalty program the starbs that we all Know and love actually left Starbucks to Go all in on a web 3 agency that creates Loyalty programs for the biggest web 2 Brands using blockchain and nfts this Person had a multi-million dollar a year Job left it to go all in on this Venture Because he sees how powerful this is and That and that alone is what makes me so So excited about the future of nfts and Web3 so guys that’s what Starbucks is Doing that’s what nft blockchain Strategy can do for a loyalty program Just really start appeasing different Sectors of your of your audience create A whole different flywheel of network Effects and overall Just in my opinion make it a much better Consumer experience by letting them own Digital assets so what we’re seeing is They are not going with The nft Branding There’s just going to be a digital Access pass smart move they’re doing Their own Marketplace so probably not Going to be on openc for the most part It’s still on chain so you can still own It if you care about that but this is For their existing web 2 customer base You guys need to understand that nfts
Web 3 this decentralized Vision that we Have it’s great but it’s not necessary To understand to get the benefits of Digital asset ownership so I really want You guys to understand the mission that We’re on is to get digital asset Ownership well known and expected by Consumers because right now everything On the internet is essentially rented or Licensed you just pay 15 bucks a month Forever to get access to these tools you Just you know Don’t own anything on the internet if You own an in-game item it’s not yours It’s in the game it has your name on it But you can’t move it you can’t sell it You can’t give it to a friend and if you Get banned in the game you lose your Asset and so digital asset ownership Very very important but this technical Jargon is holding us back and so they’re Making their own Marketplace which we’ve Been talking about for months on the Channel if you’ve been following us They’re doing polygon nfts they’re not Branding it as nfts and they’re just Going to be able to identify their most Loyal customers and give them a whole Different experience so that is what Starbucks is doing that is what they Could be doing better in the future and It’s just a matter of time this is going To be a very slow build but to see a Project and to see a company like this
Come in take it seriously and actually Implement True Value with their products It’s really really exciting for me I Guess this is what kind of how we need To think about it guys is the nft space Blew up over the last year but most These ideas started less than a year ago It’s really hard to make a brand a Quality product as good as Starbucks in A year because they’ve been worked in Business since the 70s they’re a 60 year Old business at this point almost and For that to be expected for nft projects Today is silly so I’m so excited to see These big Brands coming in and just Using this technology as a function of Their business to further their business And to identify their most valuable core Community members and actually just take This to a whole other level and create a Much better Loyalty Rewards program so That’s a super short quick simple Version of what Starbucks is doing they Didn’t release a lot of information but Hopefully you guys see what’s possible And why this is valuable if you did Please click the like button on this Video it does help Mass adoption because YouTube does spread it further and That’s our goal on this channel is to Onboard one million people into web 3 Space so guys maybe even hit me with Some cool ways that you think Starbucks Could Implement nfts into their business
Model with this new strategy go read More about it and share what you think Is possible because literally what you Can do with these is Limitless and it’s Only limited by our creativity and I’m So excited to see Starbucks take it Seriously but guys I’ll wrap it up there Have a wonderful day I’ll see you in the Next one
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