Table of Contents
NFT Token Releases: Starbucks “Holiday Cheer” NFTs, Donald Trump NFTs, and the Future of NFTs
As the world of non-fungible tokens (NFTs) continues to grow, high-profile brands such as Starbucks and Donald Trump are taking notice and releasing their own collections. These NFTs not only offer a new way to engage with fans, but they also provide a potential source of revenue. In this article, we’ll take a look at two recent NFT releases and what they could mean for the future of NFTs.
Starbucks “Holiday Cheer” NFTs
First announced and released last year, Starbucks “Holiday Cheer” NFTs are now making their way onto the secondary market – fetching prices as high as $1,000 per token. The NFTs, which are hosted on the Ethereum scaling solution, feature images of coffee cups and were released with a limited supply of just 5,000 tokens.
Despite being released as a marketing tool for the coffee giant, the Starbucks “Holiday Cheer” NFTs have become a valuable collectible for fans. So far, 210 secondary sales (meaning sales made by users rather than Starbucks) of the tokens have been made – with the highest value sales taking place on OpenSea. The Seattle-based coffee company is now set to release another collection based on the first store it opened, which will be released at a price of $100 per token.
NFTs are becoming an effective way for brands (and individuals) to carry out brand marketing while generating profit at the same time.
Donald Trump NFTs
In other NFT news this week, a second collection of Donald Trump NFTs is reportedly about to be released, after the first collection launched in December last year generated just under $1m worth of sales. The announcement, however, caused the original collection’s floor price to drop by more than 50% as their scarcity has been reduced.
NFT collections supported by high-profile brands such as Starbucks and Trump could contribute to the revival of the NFT sector, which fell alongside the wider crypto market last year. From the start of 2023 to the end of February, NFT trading volume across all chains increased by roughly 32%. However, it fell over the course of March, and so far – April has seen the lowest trading volumes this year.
About Starbucks
Starbucks is a multinational chain of coffeehouses founded in 1971 in Seattle, Washington, and has since expanded to over 30,000 locations worldwide. Starbucks is known for its signature beverages and food offerings. Last year, Starbucks announced plans to expand into the NFT space with an NFT-based loyalty program known as “Starbucks Oddysee”.
Conclusion
As we can see, NFTs are not only a new and exciting way to engage with fans but also a potential source of revenue for brands and individuals alike. With collections from high-profile names such as Starbucks and Donald Trump, we may see a revival of the NFT sector. However, it remains to be seen whether NFT trading volume will continue to increase as it did at the start of the year or whether it will decline once again.