With its Starbucks Odyssey rewards program on Ethereum sidechain network Polygon, which is currently in beta for a small number of customers, Starbucks is making big strides into Web3. It has already given a few free reward NFTs to early adopters, and this afternoon, it will release its first paid collectible.
It has already given a few free reward NFTs to early adopters, and this afternoon, it will release its first paid collectible.
Starbucks is offering Siren Collection
At 3 p.m. ET today, platform beta customers will be able to buy 2,000 NFTs for $100 each as part of the limited edition Siren Collection. Each one-of-a-kind piece of art is based on the brand’s trademark logo, which the company has called a “mega mermaid.”
In a statement about the NFT decrease, the company said, “As Starbucks has grown over the years, the Siren has been right there with us, adapting and evolving to reflect the brand and the culture.” The 2,000 pieces will be based on five different “expressions” of Siren that show how her “journey from local Seattle celebrity to revered global icon.”
Each user can buy up to two premium NFT stamps. Each stamp comes with 1,500 extra points that can be used to “level up” a user’s Odyssey account and get prizes in the future.
Starbucks started the closed beta of Odyssey in December. Soon after, a representative told Decrypt that the company had seen “unprecedented interest” from users who wanted to take part in what has been called the “next generation” of the Starbucks Rewards program.
Since then, Starbucks has given away four free NFTs based on polygons to customers who complete certain tasks in the app. The NFTs were rewarded for things like completing workplace trivia tasks or ordering Starbucks food, beverages, or gift cards.
Even though the first Starbucks NFT, the Holiday Cheer Edition 1 stamp, was free, it now sells for a lot of money on the secondary market. Many copies have sold for more than $1,000, and the most expensive one sold for $1,900. The Nifty Gateway-powered marketplace has handled secondary transactions worth a total of $222,000.
Starbucks has said that its NFT-based rewards program would eventually give customers a wide range of possible rewards, such as access to exclusive digital content and live events in stores, as well as trips, like a trip to Starbucks’ coffee plantation in Costa Rica.
The NFT market, like the rest of the crypto industry, took a hit in the second half of 2022, but it seems to be picking up again: global sales topped $2 billion in February, which was the highest number since before the market collapsed in May.
Content Source: decrypt.co
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