Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Starbucks Teases Web3 Platform Launch With New NFTs and Rewards

This week, the global coffee brand will drop its second NFT collection, and teased the public rollout for its Web3 platform Starbucks Odyssey.

Earlier today, Starbucks sent out a marketing email to Odyssey beta testers containing the subject line “We’re Getting Closer,” teasing that a public rollout of the Odyssey is near. No public comment regarding a release date has been confirmed by the company.

Coffee chain giant Starbucks also announced that it is set to launch its First Store Collection on Wednesday, April 19, and has teased a public launch for its Starbucks Odyssey Web3 rewards program.

The First Store Collection is a set of 5,000 non-fungible tokens (NFT) “stamp” collectibles, minted on the Ethereum scaling network Polygon. Each NFT is priced at $100 apiece.

Each NFT in the First Store Collection is described as a “multimedia collage of photos, in-store textures, and prominent icons” inspired by the global coffee chain’s first store in Pike Place Market in Seattle, USA. Upon buying an NFT, users will earn 1,500 points towards rewards within the Starbucks Odyssey app. 

Last month, Starbucks sold out its first premium NFT collection within minutes of its launch. The Starbucks’ Siren Collection features 2,000 unique stamps, and was also priced at $100 each. 

Users who already own two Starbucks NFT stamps will get early access to the First Store Collection drop on Wednesday, at April 19, 9AM PDT. The general sale will start on the same day at 12PM PDT.

After Wednesday’s First Store Collection NFT drop, Starbucks Odyssey will begin rolling out a series of benefits for its beta users on April 24, which will reward users based on the amount of  points they have earned on the platform. Odyssey users earn points by completing in-app objectives, such as interacting with Starbucks content, and purchases from its stores.

At the base level, Starbucks Odyssey rewards include virtual coffee brewing classes, and the option to donate to charity Feeding America to provide meals for communities in need.

Higher-level rewards include naming rights to a tree at Starbucks’ Costa Rican coffee farm, and other physical rewards like a personalised MiiR 360 tumbler (with owned NFT artwork printed on it), or chances to redeem a free, select in-store drink for 30 days.


Starbucks Odyssey

Back in December, the Starbucks Odyssey blockchain-based loyalty program debuted as a closed beta test to US-based users. As users were gradually added via waitlist to try out the coffee chain’s Web3 expansion of its existing rewards program, Odyssey soon enjoyed “unprecedented interest” from customers, according to a Starbucks representative.

As part of its early launch, the brand began release of free NFT stamps for early Odyssey users, causing demand for the coffee brand’s very first NFT to surge. Through the official Nifty Gateway secondary marketplace, Starbucks’ initial Holiday Cheer Edition 1 stamp has been resold at $2,085 at the most – but current low asking prices are $1,050.

This ‘unprecedented interest’ soon culminated into a rapid sell-out of the $100-apiece  Starbucks’ Siren Collection, its first premium NFT stamp collection. According to a representative, all 2,000 NFTs were snatched up within 18 minutes. Now on the secondary market, Siren NFT prices start at $500 apiece. 

According to overall data on the Nifty Gateway marketplace, Starbucks-branded NFTs have generated more than $1 million in trading volume.

The Starbucks Odyssey loyalty rewards program is currently limited to users based in the United States, but the coffee chain is hoping to expand internationally in the future.

Share Post: