NFTall cappuccino to go? On this week’s NFT blog, we’re delving into the announcement that the American powerhouse of coffee, Starbucks, has announced its plans to launch an NFT-based loyalty program called Starbucks Odyssey.
The program will enable Starbucks customers to purchase or acquire stamps in the form of NFTs, which in turn grant exclusive benefits and experiences to the user based on the rarity value of each collectable. According to reports, these benefits may include official Starbucks merchandise and access to immersive events.
Back in May, Starbucks was already discussing its intentions to eventually release NFT collections due to the “community building and customer engagement” opportunities such blockchain-based technologies can facilitate. With customers in the United States now joining a wait list to access Starbucks Odyssey, it certainly appears that coffee lovers are intrigued by what the NFT platform has to offer.
Rather than launch a separate rewards program for NFTs, Starbucks Odyssey is positioned as an extension of Starbucks Rewards, demonstrating how large corporations can use NFTs to enhance existing schemes and events as well as introducing new initiatives. Starbucks Odyssey will also introduce “journey stamp” NFTs, which can be earned on the app through challenges and play-to-earn games (all themed around coffee, of course). These stamp NFTs will also allow users to progress to new levels on Starbucks Odyssey that come with rewards such as virtual drink-making classes.
Before this feature is introduced, users will be able to purchase limited edition stamps with credit cards. The Starbucks Odyssey app will also feature an NFT marketplace for owners to buy and sell digital collectibles.
Stratisphere often discusses the community creation that stems from NFTs, with digital collectibles able to bring followers and fans closer to a brand or entity that they enjoy in a unique Web3 ecosystem. Starbucks certainly seems intent on created a coffee-themed niche within the NFT space, and it will be interesting to see the use cases that emerge when Starbucks Odyssey launches for U.S. customers.