Starbucks (SBUX) plans to launch a non-fungible token (NFT)-based loyalty program using Polygon’s blockchain technology.
Customers will be able to purchase and earn digital collectible stamps in the form of an NFT from Starbucks Odyssey, which will provide benefits and immersive experiences.
“Leveraging Web3 technology will allow our members to access experiences and ownership that was not possible before. Starbucks Odyssey will transcend the foundational benefits that our Starbucks Rewards members have come to love, and unlock digital, physical, and experiential benefits that are uniquely Starbucks,” said Brady Brewer, Starbucks executive vice president and chief marketing officer.
Polygon’s proof-of-stake network – a scaling tool that sits on top of the Ethereum network – will be used to build the program. Applications running on Polygon and other scalers can avoid some of the high costs and slow transaction speeds caused by Ethereum’s main network congestion.
“By integrating into the Starbucks Rewards ecosystem and grounding the experience in coffee, connection, and community, we are entering the Web3 space differently than any other brand, while deepening our members’ connection to Starbucks.”
Each NFT will include a point value based on its rarity, and the stamps could be transferred or exchanged through a built-in marketplace within the Starbucks Odyssey web app experience. To make the experience even more consumer-friendly, credit cards can be used to purchase the limited-edition stamps, and no crypto wallet or cryptocurrency will be required.
Starbucks hinted at a Web3 experience in May, when it announced plans to launch a series of NFT collections that would provide “unique experiences, community building, and customer engagement.”
“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.”
Customers can now join a waitlist to gain access to Starbucks Odyssey.