Starbucks NFTs Available to Beta Testers in the U.S.
Starbucks has made its non-fungible tokens (NFTs) available to beta testers in the US as the coffee giant continues to expand its Web3 push.
Starbucks Releases NFTs
Dubbed Starbucks Odyssey, it is the first blockchain-based loyalty program and NFT community that has been launched by the first group of U.S. beta testers. The new initiative includes coffee-themed NFTs that translate to real-world experiences.
Starbucks Odyssey is considered an extension of Starbucks’ existing loyalty program, Starbucks Rewards. However, one major difference is that the former leverages Web3 technology like the polygon blockchain and NFTs.
The company says its membership program will provide access to “immersive coffee experiences, from unique products and artist collaborations to invitations to special events.”
These experiences, which the company calls a “journey,” will include playing interactive games designed to teach customers more about the Starbucks brand and coffee. Completing journeys will earn NFTs, which the company calls “journey stamps.”
The first stamps will be inspired by Starbucks’ first store in Seattle’s Pike Place Market. Each NFT will have a point value based on its rarity and these NFTs can be auctioned on the Starbucks Nifty Gateway-powered NFT market that will launch next year.
The Journeys are designed to promote the Starbucks brand and teach customers about coffee and the company’s history. They could include any number of activities, like watching videos or taking quizzes, playing puzzles, or even going to the store to try out new drinks the company wants to promote.
The latter example is part of what makes Starbucks Odyssey more interesting than some other corporate NFT initiatives, as it’s actually connected to the company’s existing loyalty program, business goals, and mobile payment technologies, rather than functioning as a quickly tacked-on addition.
Customers will earn collectible journey stamps, Starbucks’ moniker for NFTs, upon completing videos and quizzes about coffee and the company’s history. Journeys also include other activities like playing puzzles and trying out new drinks the company wants to promote.
Earlier this year, Starbucks announced that it plans to enter the NFT business by the end of the year.
Billionaire businessman Howard Schultz, who has rejoined Starbucks as interim CEO, announced the news at an Open Forum in early April, claiming that they plan to do so “before the end of this calendar year.”
“If you look at the companies, the brands, the celebrities, the influencers that are trying to create a digital NFT platform and business, I can’t find one of them that has the treasure trove of assets that Starbucks has from collectibles to the entire heritage of the company,” he said at the time.
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