Starbucks To Foray Into NFTs With Starbucks Odyssey Launch
Coffee brewer Starbucks has launched a blockchain-powered loyalty program dubbed Starbucks Odyssey for its members, with the option of purchasing ‘limited-edition stamps’ (NFTs) through a built-in marketplace.
Starbucks Odyssey will create a new experience powered by Web3 technology that will offer Starbucks Rewards members and Starbucks partners in the U.S. the opportunity to earn and buy digital collectible assets (NFTs) that will unlock access to new benefits and immersive coffee experiences.
Starbucks will be among the first companies to use Web3 technology and integrate non-fungible tokens (NFTs) within their loyalty program for members and partners.
Customers and partners can now join the waitlist for a chance to be among the first to receive access to the Starbucks Odyssey experience, which will launch later this year.
Starbucks says its vision is to create a place where their digital community can come together over coffee, engage in immersive experiences, and celebrate the heritage and future of Starbucks. Starbucks Odyssey will be one of the ways in reinventing the Third Place, the company added.
Starbucks Odyssey is billed as an extension to the Starbucks Rewards loyalty program and can be accessed by members and partners with their Starbucks Rewards login credentials.
The Starbucks Odyssey experience encompasses a series of activities, such as playing interactive games or taking on fun challenges to deepen their knowledge of coffee and Starbucks. Members will be rewarded while participating in these activities with a digital collectable in the form of NFTs.
Members can also purchase ‘limited-edition stamps’ (NFTs) directly with a credit card through a built-in marketplace within the Starbucks Odyssey web app experience. These stamps will feature iconic Starbucks artwork co-created with Starbucks partners as well as outside artists.
These stamps will also come with a point value based on its rarity, and can be bought or sold among members within the marketplace, with ownership secured on a blockchain.
The points can then be used to unlock access to unique benefits and experiences ranging from a virtual espresso martini-making class, to access to unique merchandise and artist collaborations, to invitations to exclusive events at Starbucks Reserve Roasteries or even trips to Starbucks Hacienda Alsacia coffee farm in Costa Rica.
As part of Starbucks’ commitment to reducing its carbon, water and waste footprints, Starbucks Odyssey will utilize a “proof-of-stake” blockchain technology built by Polygon, which uses less energy than first generation “proof-of-work” blockchains.
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