Starbucks Explores NFTs & Gucci Goes Ape

Global coffee mega chain Starbucks is set to dive into the NFT world, and fashion label Gucci goes Ape, quite literally. 

Iconic international coffee franchise Starbucks has announced it will be launching a new Web3 rewards program. Although Starbucks CEO Howard Schultz only teased at the details of the new digital initiative, he did confirm it would involve “digital collectibles”, i.e. NFTs – non-fungible tokens. 

Meanwhile, Italian luxury fashion label Gucci has become the first major brand to accept ApeCoin payments. Gucci already accepts a dozen other digital assets, but it will now also accept ApeCoin, the native cryptocurrency of the Bored Ape Yacht Club (BAYC), for in-store purchases in the United States.

Payments will be processed through BitPay, and represent the latest foray into Web3 by the brand.