Coffee giant Starbucks has launched a new NFT rewards program. The Starbucks Odyssey program combines its existing loyalty rewards with NFTs and will ensure its customers benefit from new incentives and rewards.
Starbucks joined forces with Forum3 – a Seattle-based web3-powered universal loyalty platform. The beta test rollout of the program has been offered to a select group of reward members and employees, as the next-generation Starbucks experience moves into Web3.
Forum3 CEO Andy Sack said the partnership introduced the ‘next generation loyalty platform that will help cement the bond between customers and Starbucks, and that other brands were looking into the capabilities of NFTs and Web3.
‘Web2 brands are awakening to the opportunity for a clear use case of the blockchain. And it exists in the form of next-generation loyalty,’ said Sack. ‘Particularly, younger consumers are looking for ways to engage with their favorite brands and get to be acknowledged and delighted digitally. I think that you’re gonna see a lot more of that soon.’
Starbucks Odyssey for Greater Experiences
Starbucks Odyssey members will be able to join interactive ‘journeys’ where they can go on virtual experiences to Starbucks roasteries and coffee farms in Costa Rica to learn about Starbucks’ heritage.
Once a journey is complete, Starbucks Odyssey members will earn an NFT called ‘Journey Stamps’ and ‘Odyssey Points’ both of which will allow holders to have many benefits and more immersive experiences.
The beta test users will send data to Starbucks and its partner Forum3 to help the innovative Web3 rewards program evolve and shape the future of the Odyssey experience.
In the near future, Starbucks Odyssey will feature a marketplace where members can buy and sell limited-edition NFTs, and unlike other NFT programs, Starbucks members won’t have to own a crypto wallet to buy them.
Starbucks Aiming to Stay Relevant to its Younger Customers
Along with introducing customizable drinks, the move into Web3 and the NFT space is key to Starbucks’ plan to turn its younger customers into Starbucks Rewards members. Gen Z makes up a large portion of its customer base and it’s known the majority of them have sidestepped the legacy rewards program.
Speaking of the NFT launch, Starbucks CMO Brady Brewer said, ‘Starbucks has a history of harnessing emerging technology to innovate on behalf of our customers and making it easily accessible and approachable for the mainstream.’
‘Starbucks Rewards members are some of our most loyal and engaged customers, and Starbucks Odyssey is our next big innovation in loyalty to recognize, surprise and delight them,” said Brewer.
Starbucks’ Odyssey Continues
Starbucks may be one of the biggest companies in the world, but there’s little chance it’s resting on its coffee brew. From lattes to customizable drinks, and now from rewards points to NFTs, the Seattle-based coffee giant continues to innovate.
As the world moves towards Web3 and NFTs, it’s clear Starbucks’ odyssey will evolve as it moves with the times, and the beneficiary will be its loyal customers.