Wednesday, Aug 10, 2022
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Starbucks To Take A Taste Of NFTs; Brand Is Treasure Trove Of Collectibles, Says CEO; Bitcoin Price Falls

Starbucks NFTs may be out by the end of the year, says CEO Howard Schultz. Bitcoin price fell 3.10 per cent in the last 24 hours while Ethereum saw a fall of 6.21 per cent

Starbucks has stated that it will enter the non-fungible token market.

Howard Schultz, interim CEO of American multinational chain Starbucks, has announced plans to get into the non-fungible-token (NFT) business. He said this while speaking at a town hall meeting aimed at Starbucks workers amid a massive union drive, according to various media reports. The company said in a statement that it is working on “digital innovation through NFTs and plans for continued evolution of partner benefits, with more detail expected in the weeks ahead." He also said that Starbucks as a company and a brand has a treasure trove of assets, from collectibles to the entire heritage of the company. The NFTs may be out before the end of the year, Schultz added. 

In another development, Kassio, a crypto platform that allows users to buy, sell, borrow, earn and utilise cryptos, has raised funds worth $1.6 million in the pre-seed round. It has raised the investment from two major European investment funds, and Aalto Capital, which led the round. Sachin Singh, CEO and co-founder of Kassio, said, "This successful pre-seed funding round is a testimony to the strength of our project Kassio… and the innovation that brings together crypto investment and much-required crypto utility features". 

Crypto Prices 

The price of Bitcoin in the cryptocurrency market fell by 3.10 per cent in the last 24 hours, and it was trading at $44,898.12 at 5:00 pm IST. Its dominance in the crypto market is currently at 41.43 per cent, up by 0.46 per cent in the last 24 hours, according to Coinmarketcap.com. 

In the last 24 hours, Ethereum (ETH) was trading at $3,302.09, a fall of 6.21 per cent, while Binance Coin (BNB) fell 4.95 per cent in the same period, and was trading at $434.84. Solana (SOL) was down by 9.38 per cent to $121.47, while Cardano (ADA) was down by 7.91 per cent to $1.11. 

 

Meme Coins 

Among meme coins, Dogecoin was up 1.04 per cent, and it was trading at $0.1538 at 5:00 pm on Coinmarketcap.com. Its rival, Shiba Inu, was down by 4.35 per cent and was trading at $0.00002555. Samoyedcoin was down by 10.37 per cent, trading at $0.02058, while Dogelon Mars was down by 6.50 per cent, and was trading at $0.0000009542. 

Overall Scenario 

According to Coinmarketcap.com, the global crypto market cap was at $2.06 trillion, an increase of 4.87 per cent in the last 24 hours, while the total crypto market volume was $120.07 billion, up by 17.02 per cent, according to Coinmarketcap.com. 

Charactbit (CHB) became the biggest gainer, recording a rise of 849.88 per cent. It was trading at $0.003678 at 5:00 pm, according to Coinmarketcap. In contrast, Metacyber (METAC) witnessed the maximum loss, falling 98.23 per cent. It was trading at $0.0000002301. 

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