Starbucks NFT collection celebrating original Seattle store fails to sell out
Starbucks failed to sell out its latest NFT collection, which was modeled on the first coffeehouse it opened in Seattle 52 years ago.
Out of the 5,000 NFTs in the Starbucks First Store Collection that were on offer for $100 each this week, only 4,579 sold, according to data from Starbucks' NFT marketplace partner Nifty Gateway. The performance is starkly different from the coffee giant's previous Siren collection, which paid homage to the company's logo and reportedly sold out in under 20 minutes.
It is unclear what particularly led to the disappointing results, but NFT activity has generally declined over the past few months. NFT trading volume across blockchains has dropped lately, according to The Block's Data Dashboard.
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