Starbucks Odyssey Launches “Get Closer” With New NFTs, Rewards

After selling it out first premium NFT release within minutes last month, coffee chain giant Starbucks will launch a new collection this week – suggesting that a public launch of Odyssey Web3 rewards program may be approaching.

On Wednesday 19 April, Starbucks will launch its First store collectiona set spanning over 5,000 NFT “stamp” collectibles embossed on Ethereum scaling network Polygon. The NFTs are priced at $100 apiece, similar to the previous drop which offered only 2,000 NFTs.

Each of the new NFTs is described as a “multimedia collage of images, in-store textures and prominent icons” inspired by the chain’s first store in Seattle’s Pike Place Market. Purchasing an NFT also earns users 1,500 points toward rewards in the Starbucks Odyssey app. Users who already own two Starbucks NFT stamps will have early access to the release on Wednesday.

Starbucks Odyssey debuted in a closed beta test in December, with users gradually added via a waiting list to try out the Web3 extension of the brand’s existing rewards initiative. A representative for the company said at the time that the program had seen “unique interest” from customers.

Starbucks sent a marketing email to Odyssey beta testers today with the subject line “We’re getting closer,” suggesting a public rollout may be imminent. Decrypt contacted a company representative for further details but did not immediately hear back.

Following Wednesday’s NFT release, Starbucks Odyssey will launch a series of benefits for beta users on April 24, providing benefits based on how many points each user has earned.

Starbucks gave a first look at the rewards today. Base-level rewards include a virtual coffee-making class or a donation to Feeding America to provide meals to people in need.

Higher-level options include the ability to name a tree at Starbucks’ Costa Rican coffee farm, a personalized MiiR 360 glass with your own NFT artwork on it, or a selected free drink in store every day for 30 days. Users earn points by completing in-app goals, such as interacting with Starbucks content and purchasing drinks from their stores.

Starbucks began rolling out free NFT stamps to early adopters in December, and demand for the company’s very first NFT began to rise. The first Holiday Cheer Edition 1 stamp has been resold for as much as $2,085 through the official Nifty Gateway secondary marketplace, although the current low asking price is only around $1,050.

March launch of first Starbucks premium stamp, Siren Collection, saw a quick sell-out as all 2,000 NFTs were snapped up within 18 minutes, the company said. Originally sold for $100 apiece, the Siren NFTs now start at $500 apiece on the secondary market. Overall, Starbucks NFTs have generated more than $1 million in trading volume to date.