After Starbucks sold 2,000 nonfungible tokens within minutes in March, the coffee chain just released 5,000 NFTs priced at $100 each.
On Wednesday, Starbucks SBUX, -0.70%, the famous coffee-chain, released 5,000 nonfungible tokens, called The First Store Collection. It’s a series of images that look like stamps. The company launched them on Nifty Gateway, a digital art online platform, and minted them on Ethereum scaling network Polygon.
Broader interest in collecting, trading, and making NFTs appears to have died down since its peak in 2021 and 2022, but big brands are still moving ahead with plans to launch them. Earlier this week, Nike NKE, -0.43% announced launching its first NFT drop on .Swoosh, the brand’s Web3 community branded as a place to co-create “the future of Nike” with its fans.
“In the past 30 days, it has seen a trading volume of $195,000 and an overall trading volume of $561,000. The floor price for the collection is at $450, which is a 350% appreciation since the mint.”
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