Starbucks Expands NFT Collection and Hints at Web3 Odyssey Public Launch
Discover Starbucks' new NFT collection and Web3 Odyssey rewards program, blending coffee culture with digital innovation for a unique experience.
Starbucks is expanding its presence in the digital world with a new NFT collection drop and potential public rollout for its Web3-based Odyssey rewards program. Let's take a closer look at these developments and what they mean for coffee enthusiasts worldwide.
Paying Tribute to Starbucks' Beginnings
The upcoming First Store Collection launch on April 19th will feature 5,000 NFT "stamp" collectibles minted on the Ethereum scaling network, Polygon.
Each NFT will be priced at $100 and will pay tribute to the first Starbucks store in Seattle's Pike Place Market. The NFTs will include a multimedia collage of photos, in-store textures, and prominent icons representing the coffee giant's origins.
Purchasing an NFT will also earn buyers 1,500 points towards rewards in the Starbucks Odyssey app. Those who already own Starbucks NFT stamps can get early access to the collection drop.
Web3 Expansion Gains Momentum
The Starbucks Odyssey program was introduced as a closed beta test in December, and it has since attracted significant interest from customers.
This Web3 expansion of Starbucks' existing rewards initiative combines blockchain technology and coffee culture. A recent marketing email sent to Odyssey beta testers with the subject line "We're Getting Closer" has led to speculation that a public rollout may be imminent.
Source: MediumBenefits for Odyssey Beta Users
Starbucks has announced a series of benefits for Odyssey beta users, set to roll out on April 24th. These perks will be determined based on the number of points each user has earned through the rewards program.
Starbucks has provided a first look at the rewards available through its program.
Base-level rewards include a virtual coffee preparation class or a donation to Feeding America to provide meals for people in need.
Higher-level options include naming a tree at Starbucks' Costa Rican coffee farm, a personalized MiiR 360 tumbler with owned NFT artwork on it, or a select free in-store drink every day for 30 days.
Users can earn points by completing in-app objectives, such as interacting with Starbucks content and buying drinks from its stores.
Starbucks NFTs: A Growing Success
Starbucks began offering NFTs in December, and demand for these digital assets has been strong. The initial Holiday Cheer Edition 1 stamp has been resold for as much as $2,085 on the official Nifty Gateway secondary marketplace.
The Starbucks Siren Collection sold out within 20 minutes. With more than $1 million in trading volume generated to date, Starbucks NFTs have proven to be quite popular.
As Starbucks continues to combine its coffee expertise with the digital world, the future of the brand is sure to be exciting. With the Starbucks Odyssey program and NFT collection gaining momentum, there's much to look forward to for coffee fans everywhere.
