Ever since NFTS became a trend last year, many companies have jumped the wagon to get a piece of the pie. Starbucks is among these companies – it revealed its foray into the world of NFTs as part of its quarterly earnings report (and a blog post) in May.
Now, several months down the line and after the craze has lessened a bit, it is officially unveiling its first venture into building with Web3 technology – Starbucks Odyssey. If you are interested to take part in the initiative, then you can join the waitlist, starting today. Odyssey will launch later this year.
This new initiative by the multinational coffee chain will let both members of Starbucks Rewards and Starbucks partners – that is, its employees – in the US earn and purchase collectable digital stamps that will unlock access to new benefits and experiences.
In case you do not remember, Starbucks Rewards is a loyalty program that lets you spend money to earn stars, which you can redeem for free items.
The digital stamps – which includes limited-edition ones and come with Starbucks artwork – are the NFTs, and will be authenticated and tracked by blockchain technology. Members can earn, buy, and sell them in a built-in marketplace with other members as well within what the company calls “the Starbucks Odyssey web app experience.”
Speaking of buying, members do not need to resort to any kind of crypto wallet or cryptocurrencies to buy the NFTs – Starbucks has made it possible for members to purchase them directly with a credit card. The multinational chain also informs that along with new benefits, customers will have access to “immersive coffee experiences.”
What do these experiences include? For one, it includes what Starbucks calls “Journeys” – which includes activities such as interactive games or challenges to deepen their knowledge of coffee and Starbucks. Completing journeys will reward members with an NFT – a digital collectable ‘journey stamp.’
To sweeten the pot, the stamps will include point values (based on their rarities), so the more stamps a member has, the more points they will have. With more points, they can unlock access to special features and experiences.
These include an online class on making espresso martinis, access to unique merchandise and artist collaborations, invitations to exclusive events at Starbucks Reserve Roasteries, and even trips to Starbucks Hacienda Alsacia coffee farm in Costa Rica.
“By integrating into the Starbucks Rewards ecosystem and grounding the experience in coffee, connection and community, we are entering the Web3 space differently than any other brand, while deepening our members’ connection to Starbucks. Our vision is to create a place where our digital community can come together over coffee, engage in immersive experiences, and celebrate the heritage and future of Starbucks,” said Brady Brewer, Starbucks Executive VP and chief marketing officer.
“Leveraging Web3 technology will allow our members to access experiences and ownership that was not possible before. Starbucks Odyssey will transcend the foundational benefits that our Starbucks Rewards members have come to love, and unlock digital, physical and experiential benefits that are uniquely Starbucks,” he added.