- Starbucks CEO Howard Schultz is set to enter the non-fungible token (NFT) market in the near future.
- Starbucks’ share repurchase programme has been halted by Schultz.
- Rebuilding Starbucks’ future will result in a corporation without unions.
Starbucks’ new interim CEO, Howard Schultz, plans to enter the non-fungible token (NFT) industry shortly. While speaking to his staff at the open forum, he discussed his company’s future plans.
Schultz stated that he is not a digital native and asked the audience if they had heard of NFTs and whether they were involved in NFT investing.
Schultz indicated that the ecosystem was young after not obtaining the desired reaction. He asserted that Starbucks has the greatest tools and collections for this new venture.
He claimed that he could not think of a single company, brand, celebrity, or influencer that is looking to establish a digital NFT platform and business that has the rich trove of assets that Starbucks does, ranging from collectibles to the company’s whole history.
Starbucks might become even more crypto-friendly with Schultz as CEO. Other mainstream firms aren’t only financing NFT drops; they’re also building new crypto experiences like metaverse shops and collaborating with other crypto initiatives.
Schultz will stop Starbucks’ share repurchasing programme to get things started.
We are stopping our share repurchase programme effective immediately. This decision will enable us to reinvest more profits in our employees and shops, which is the best way to build long-term value for all stakeholders.
Schultz believes that this industry will help the organisation improve its consumer and employee experiences. Digital assets will give Starbucks the tool to adapt to the present time. And people will find a new way to experience the store.
By rebuilding Starbucks, it will lead to a company without unions. He aims for Starbucks not to need anyone in between them and their customers.