Starbucks launches NFT-based loyalty program
The integration, called Starbucks Odyssey, allows those participating in the loyalty program (referred to as Starbucks Rewards) as well as employees to earn and purchase special blockchain tokens. Each is designed to “unlock digital, physical and experiential benefits that are uniquely Starbucks,” according to executive vice president and chief marketing officer Brady Brewer. These benefits range from virtual coffee mixology classes, access to special merchandise, invitations to events at Reserve distilleries and tours of the brand’s coffee farm in Costa Rica.
Odyssey will be slapped on top of the existing Starbucks Rewards program. Rewards members will be able to log into their Starbucks account in the app or in a web browser to participate in virtual activities such as games or brand trivia. These activities are called Odyssey “journeys,” and when completed, members will be rewarded with a “journey stamp”—Starbucks’ honey-sweet name for an NFT. Each NFT will be designed with artwork created by Starbucks employees and third-party artists.
Members looking to acquire more NFTs without spending time completing trips will be able to purchase them from a marketplace built into the Starbucks app. Some of the money from these purchases will be donated to charities chosen by Rewards members and employees. The company said it will not require members to use crypto-wallets or other forms of cryptocurrency to purchase NFTs, as it wants to remain accessible to those who would otherwise be out of the blockchain loop. Interested Rewards members can join a waiting list to be the first to try Odyssey when it’s available.
“Our vision is to create a place where our digital community can come together over coffee, engage in immersive experiences and celebrate the legacy and future of Starbucks,” said Brewer.
If you’re wondering how a company that claims to care a lot about the environment can justify its venture into blockchain, you’re not the only one. Starbucks put environmental concerns ahead of its release, saying it is taking “a thoughtful and thorough approach” to Odyssey’s launch. The brand will use a Polygon proof-of-stake blockchain protocol instead of a proof-of-work, as the former is said to have one percent of the latter’s computational costs and energy consumption. (Ethereum, currently one of the most popular cryptocurrencies, is switching to a proof-of-stake protocol for similar reasons this week.)
Starbucks swears that the NFT experience will be different from any other company’s, and as much as I want to call bull, it may be right. I mean, where else can you get a sugar-laden Frappuccino, a $30 plastic cup, and an NFT? Starbucks is already a brand with a cult-like following – that it’s taking its fans’ enthusiasm a step further is unfortunately anything but surprising.
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