Starbucks, smaller chains brew NFT customer loyalty platforms
Coffee chains are entering the crypto world: the latest examples are Starbucks and the South Korean coffee brand Tom N Toms.
Starbucks announced on Monday that it will launch a customer loyalty platform called “Starbucks Odyssey” on public blockchain Polygon.
The platform’s users will obtain non-fungible tokens (NFT), or “stamps”, by playing games or direct purchases. Stamps can be traded between users or exchanged for Starbucks benefits and experiences.
Starbucks will allow customers to pay for the NFTs directly with a credit card, without the need for cryptocurrencies and crypto wallets.
The company did not share the cost of its NFTs or the amount available at launch, saying those decisions are still being worked out, nor did it reveal whether it will only launch in any specific countries. The platform currently allows pre-registration, and will open up to some users later this year and more broadly next year.
Launching the blockchain-based loyalty platform is considered “reinventing the third place to meet our customers,” said Brady Brewer, Starbucks’ executive vice president and chief marketing officer.
“Digital third-place community enabled by Web3 technology where Starbucks Rewards members and our partners can connect through unique experiences and come together around the love of coffee,” added Brewer.
While the largest coffee brand in the world announced its use of NFTs, several smaller players have already entered blockchain.
New York-based roastery Coffee Bros. launched a profile picture (PFP) NFT collection called Crypto Baristas last year to help fund its first coffee shop in the city while providing offline benefits to owners.
The Crypto Baristas NFT project has since taken an initiative to make their coffee business more transparent and environmentally friendly.
More recently, Tom N Toms Coffee, a chain coffee shop based in South Korea with over 500 stores internationally, announced that it is launching its own NFT market called TOMS NFT on September 20.
The Korean coffee house brand is already knee-deep in blockchain technology. Back in January, it issued its own utility token, TomTom Coin (TOMS).
Like Starbucks’ NFT plan, the TOMS token was created to reward the cafe’s customers and as a means of payment. The token has since been listed on major crypto exchanges such as Coinbase and Binance.
“The TOMS project was started so that the Tom N Toms brand will not be limited to just being a coffee shop, and become a lifestyle using blockchain and crypto technology,” TomTom Coin says on its website.
Tom N Toms takes the project one step further on their upcoming NFT platform to allow users to create, store, trade and auction digital art, game items or memes.
