Starbucks Outlines Plans to Reward Customers with NFTs
- The Starbucks Odyssey will be the coffee chain’s first attempt in the NFT market.
- There is no official release on the price of the NFTs or how many will be available at launch.
Popular American coffee chain Starbucks has announced its first foray into the NFT market, the Starbucks Odyssey, which it said would launch this year. The famous brand will reportedly reward loyal customers with a chance to buy and earn digital collectibles, giving its customers a one-of-a-kind experience.
The organization has previously hinted at its web3 intentions to investors, saying that it thought this new experience would build on the existing Starbucks Rewards model where customers earn “stars” that can be swapped for benefits like free coffee. Additionally, the company sees Starbucks Odyssey as a strategy for its most devoted customers to acquire a wider range of benefits while fostering community.
The well-known coffee company claims that the benefits of its new reward scheme include access to exclusive items, invitations to events at Starbucks Reserve Roasteries, virtual classes on how to make espresso martinis, and even tours to the Starbucks Hacienda Alsacia coffee farm in Costa Rica.
Furthermore, the soon-to-be-released Starbucks Odyssey will allow customers to earn NFTs by engaging in fun challenges or playing interactive games with a coffee theme. However, they don’t need to link their wallets or use cryptocurrency to buy NFTs on the built-in marketplace. According to the coffee company, the NFTs are created on the Polygon blockchain.
Starbucks enlisted Adam Brotman, the creator of its Mobile Order & Pay system and the Starbucks app, to work as a special advisor on the Starbucks Odyssey. The company’s CMO Brady Brewer told TechCrunch that although the company had been looking into blockchain technologies for a few years, it had just been working on this project for six months.
According to him, the business intended to invest in this sector, but not as a “stunt” side project like many other companies. Instead, it sought a method for utilizing technology to improve and scale.
Speaking of the project’s development, Brady said,
We are entering the Web3 space differently than any other brand while deepening our members’ connection to Starbucks. Our vision is to create a place where our digital community can come together over coffee, engage in immersive experiences, and celebrate the heritage and future of Starbucks.
Starbucks Rewards users will log in to the web app using their current reward program credentials to interact with the Starbucks Odyssey experience. Afterward, users can participate in various activities, referred to by Starbucks as “journeys,” such as playing interactive games or completing tasks that will expand their understanding of the Starbucks brand or coffee.
In addition, members can acquire early digital treasures in the form of NFTs when they complete these journeys. Rather than stick to the tech jargon, Starbucks Odyssey refers to these NFT collections as “journey stamps.”
Users can also purchase these rewards NFTs with a debit or credit card. They, however, do not need a crypto wallet. According to the coffee brand, this ensures that customers can interact with the new experience without barriers. As of now, there is no official release on how much these NFTs will cost or how many will be available at launch.