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Giant Companies Starbucks and Forbes to Launch its NFTs in 2022

Giant Companies Starbucks and Forbes to Launch its NFTs in 2022

Posted Tuesday, April 12, 2022 by
Sophia Cruz • 1 min read

Big companies acknowledge the need to integrate blockchain into their daily operations; many of the largest companies and corporations like Adidas, McDonald’s, and Visa have been working with blockchain technology and cryptocurrencies tokens to enhance their business functionality in the past couple of years. The latest to join the NFT bandwagon are respective Forbes and international coffee franchise Starbucks. 

Starbucks CEO Howard Schultz’s announcement is a positive sign for the cryptocurrency community, as it validates the idea that crypto-based tokens can be harnessed as alternatives to pay for goods and services. While it’s not known precisely how the NFT will be used, Starbucks has become one of the most recognizable brands globally. Its adoption of a crypto token is an excellent entry point for other companies to start exploring the same paths. In an Open Forum event, the CEO emphasized to their employees their NFT collection strategy as a new way to forge their company’s future. The said NFT collection is set to release by the end of this year.

Forbes today announced the launch of the Virtual NFT Billionaires Collection. The collection includes 100 fictional investors, each with a gigantic theoretical portfolio and online net worth based on live New York Stock Exchange pricing. Forbes has integrated with FTX, a top multinational cryptocurrency exchange, to launch an ERC-721 token. Initial access to the collection is available to Forbes subscribers on April 11. When the Forbes collection sells out, interested parties can still avail of their Forbes Virtual NFT Billionaires on any ERC-721 Marketplace.

This NFT collection strategy not only helps promote blockchain technology but will also help bring the mainstream markets into adopting the use of crypto as a transaction medium, which can be good news for the crypto community in general.

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