Starbucks introduces coffee-themed NFTs and Web3 loyalty program

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Last week, the American multinational coffeehouses chain Starbucks launched its blockchain-based loyalty program, called Starbucks Odyssey. The company’s new Web3 rewards platform debuted on Thursday only for a small group of US beta testers, final version coming early 2023.

Starbucks Odyssey is an extension of the company’s loyalty programs Starbucks Rewards – and allows members to earn coffee-themed NFTs as a reward through digital experiences like playing games and quizzes.

“Our innovative spirit and the desire to continuously exceed the expectations of our customers has led to the launch of Starbucks Odyssey,” Brady Brewer, Starbuck’s Vice President said in a statement. “We are leveraging Web3 technology to reward and connect with our members in new ways, such as offering collectible, ownable digital stamps, a new digital community, and opening access to new benefits and immersive coffee experiences – both physically and digitally.”

The company first announced its NFT initiatives in September as it partnered with Polygon, a popular Proof-of-stake blockchain network. In 2023 it will also feature an NFT marketplace powered by Nifty Gateway, where users can “trade or purchase stamps directly with a credit card – no crypto wallet or cryptocurrency will be required.”

“Shortly after beta launch, members will have access to the Starbucks Odyssey market powered by Nifty Gateway, where they can buy or sell Starbucks Odyssey digital collectible Stamps among members, with Polygon as the blockchain for the entire experience starting with the beta launch,” an official statement noted.

According to Starbucks, funds from NFT sales, will be donated to charitable organizations. “Sales of Limited-Edition Stamps include a charitable components, with donations to causes that matter to Starbucks partners and Starbucks Rewards members,” states the company’s website.

Nowadays more and more companies are joining the NFT trend, McDonald’s launched in November 2021 a limited edition of McRib NTFs, Coca-Cola launched a couple of hundreds of NFTs in the past year and Budweiser debuted its NFT drink collection ahead of Super Bowl LVI.

Source: thecryptoupdates.com