Starbucks is partnering with Polygon for their Starbucks Odyssey NFT Experience
Starbucks, a well-known coffee brand, has partnered with Polygon blockchain to create its recently unveiled Web3 experience. Polygon stands with the announcement made on September 12, 2022. With the new experience, customers can now earn and buy NFTs that unlock new benefits and coffee experiences.
Starbucks’ commitment to Web3
With the announcement, the Starbucks team further laid out its commitment to Web3. The team supports the announcement that Starbucks Odyssey will expand the company’s presence in the digital world.
Web3 develops the “Third Place” connection to the digital space. In support of the Web3 work, the Starbucks Odyssey team states that Starbucks has always served as a “third space” between home and work. The company has a way of connecting its customers as they earn rewards with its loyalty program
Digital collectible stamps to be awarded
With the new move, Starbucks Rewards loyalty program customers and workers will collect and purchase digital collectible stamps in the form of NFTs. Thus, each NFT has a rarity point value and can be traded on Starbucks’ marketplace.
The stamps will feature an identified Starbucks artwork, produced jointly by outsiders and Starbucks partners. Limited edition stamps can be purchased with a credit card.
Consequently, a bitcoin or crypto wallet will not be required, making the experience fun and easy to use for members.
In addition, each NFT will be created in collaboration with Starbucks partners and external artists. All NFTs will be stored on Polygon to comply with Starbucks’ sustainability commitments. The launch will take place later this year.
Starbucks has assured that this will be an NFT based on the principles they are creating with the new experience:
1. Leverage NFTs as a value add, and understand that NFTs have three key aspects. These are collectability, earnability and utility.
2. Maintained brand image within the NFT ecosystem and its sustainability.
3. Focus on User UX, where one can trade NFTs directly on their marketplace with fiat.
Starbucks Odyssey is the largest NFT loyalty program ever. The Starbucks Odyssey experience successfully leverages the core value of NFTs while maintaining their brand image and acknowledging the current Web3 areas of UX friction.
Vincent Munene is a freelance writer and a big blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return he enjoys educating people and keeping them updated on all things blockchain. He is a biochemist by profession and also loves to play the piano.
