Starbucks Launches First Store Collection NFTs and Teases Public Launch of Odyssey Web3 Rewards Program

Starbucks, the world-renowned coffee chain, is set to launch its latest premium NFT drop this week after selling out its first collection within minutes. The new First Store Collection includes 5,000 NFT “stamp” collectibles that have been minted on Ethereum scaling network Polygon and are priced at $100 apiece. Each NFT is a multimedia collage inspired by Starbucks’ first store in Pike Place Market in Seattle and includes photos, in-store textures, and iconic elements. Purchasing an NFT also earns users 1,500 points towards rewards within the Starbucks Odyssey app.

Starbucks Launches First Store Collection NFTs on Ethereum Scaling Network Polygon

Starbucks Odyssey, which debuted in December, is a Web3 expansion of the brand’s existing rewards program that allows users to earn points by completing in-app objectives and interacting with Starbucks content. Starbucks plans to roll out a series of benefits for beta users starting on April 24, including virtual coffee preparation classes, donations to Feeding America, and select free in-store drinks every day for 30 days. Higher-level options include the ability to name a tree at Starbucks’ Costa Rican coffee farm and a personalized MiiR 360 tumbler with owned NFT artwork on it.

Starbucks NFTs Have Generated Over $1 Million in Trading Volume to Date

The success of Starbucks’ NFT drops has been unprecedented, with the initial Holiday Cheer Edition 1 stamp being resold for as much as $2,085 on the official Nifty Gateway secondary marketplace. The Siren Collection, the company’s first premium stamp, sold out within 18 minutes, with all 2,000 NFTs being snapped up. Overall, Starbucks NFTs have generated more than $1 million in trading volume to date.

Starbucks Odyssey Web3 Rewards Program Nearing Public Launch

Starbucks is also suggesting that a public launch of the Odyssey Web3 rewards program may be approaching, as the company sent a marketing email to beta testers with the subject line “We’re Getting Closer.” Users who already own two Starbucks NFT stamps will have early access to the new collection on Wednesday, April 19.

As Starbucks continues to explore the potential of NFTs and Web3 technology, the company remains committed to providing innovative rewards programs and experiences to its customers. With the success of its NFT drops, it’s clear that Starbucks has tapped into a new market and is pioneering the use of blockchain technology in the retail industry.