NFT: Starbucks is brewing an NFT-based loyalty program for rewards members
Starbucks announced that it would be offering something new to members of its loyalty program. The coffee chain will add an NFT-based benefit where people will be able to purchase digital collectible stamps in non-fungible token form.
The company will launch Starbucks Odyssey, which will offer a revolutionary Web3 experience for its rewards members. This NFT-based loyalty scheme will operate using Polygon’s blockchain technology.
According to CoinDesk, the Starbucks Odyssey program is built on Polygon’s proof-of-stake (PoS) network, a cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain that rests on top of the Ethereum network.
The Seattle-based coffee house company is adding the new Starbucks Odyssey experience as a perk for its loyal customers. This will give members the opportunity to earn and buy NFTs or digital collectible stamps that can unlock access to new coffee experiences.
It was noted that Starbucks already hinted in May about developing its own Web3 experience in its stores. At the time, the company revealed its plans to release a series of digital collections and provide unique experiences to customers in addition to expanding customer engagement and community building.
To take advantage of the Starbucks Odyssey experience, customers can sign up for a waiting list now. This NFT program is an extension of the company’s Starbucks Rewards program that gives members access by logging in with their credentials.
Once on the site, members can purchase limited edition NFTs via the Starbucks Odyssey built-in marketplace. People can pay for the purchase by credit card – no crypto wallet or cryptocurrency required.
“Starbucks has always served as the third place, a place between home and work where you feel the warmth of connection over coffee, community and belonging,” Starbucks executive vice president and chief marketing officer Brady Brewer said in a press release. “The Starbucks Odyssey experience will extend Third Place’s connection to the digital world. For the first time, we’re connecting our Starbucks Rewards loyalty program members not just to Starbucks, but to each other.”
He added, “By integrating into the Starbucks Rewards ecosystem and grounding the experience in coffee, connection and community, we’re entering the Web3 space differently than any other brand, while deepening our members’ connection to Starbucks.”
