Starbucks Introduces Its NFT-Based Loyalty Program

Starbucks Introduces Its NFT-Based Loyalty Program

The coffeehouse giant expands its loyalty program to Web3. 

Starbucks, the world’s largest coffeehouse chain with around 34 thousand stores worldwide, is launching a Web3-based loyalty program called Starbucks Odyssey. 

According to the announcement shared by Starbucks on September 12th, the Starbucks Rewards members and its employees can earn or purchase digital collectibles, which will help them to open “new benefits and immersive coffee experiences.”

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The company notes that users who already have their Starbucks Rewards accounts can access the Starbucks Odyssey with existing credentials. 

To earn free digital collectible stamps, members will have to engage in Starbucks journeys, such as playing games or taking on Starbucks or coffee-related challenges. After completing the tasks, members will receive a digital collectible ‘journey stamp’ in the form of NFT. 

However, if members want to own more valuable NFTs, they can buy them through a built-in marketplace using credit cards. In its announcement, Starbucks highlighted that “no crypto wallet or cryptocurrency will be required” to make purchases on the marketplace.

The collectibles will have their own blockchain ownership verification, making each NFT have its own point value. The rarer the stamp, the higher its point value. Therefore, as with the majority of loyalty programs, gathering the collectibles and their points will give program members a chance to receive “unique benefits and experiences.”

The company gives a few examples of what Starbuck Odyssey members can expect as a reward for their efforts. 

These experiences could range from a virtual espresso martini-making class, to access to unique merchandise and artist collaborations, to invitations to exclusive events at Starbucks Reserve Roasteries or even trips to Starbucks Hacienda Alsacia coffee farm in Costa Rica.”

It is worth noting that, at the beginning of August, Starbucks CEO Howard Schult teased the Web3-based reward program, now known as Odyssey

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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