Starbucks, a well-known coffee brand, has partnered with the Polygon blockchain to create its recently unveiled Web3 experience. Polygon stands with the announcement made on September 12, 2022. With the new experience, customers can now earn and purchase NFTs that unlock new benefits and coffee experiences.
Starbucks Commitment to Web3
With the announcement, the Starbucks team further laid out their commitment to Web3. The team supports the announcement stating that Starbucks Odyssey will extend the company’s presence in the digital world.
Web3 develops the “Third Place” connection to the digital space. In support of the Web3 endeavors, the Starbucks Odyssey team states that Starbucks has always served as a “Third Place” between home and work. The company has a way of connecting its customers as they earn rewards with its loyalty program
Digital Collectible Stamps to be Awarded
With the new move, Starbucks Rewards loyalty program customers and workers will collect and buy digital collectible stamps in the form of NFTs. Thus, every NFT has a rarity point value and can be traded on Starbucks’ marketplace.
The stamps will have an identified Starbucks artwork, jointly produced by outsiders and Starbucks partners. One can purchase limited-edition stamps using a credit card.
Consequently, a bitcoin or crypto wallet will not be necessary, making the experience fun and simple for members to use.
Additionally, each NFT will be created in collaboration with Starbucks partners and outside artists. All NFTs will be stored on Polygon to align with Starbucks’ sustainability commitments. The launch will happen later this year.
Starbucks has assured that this will be an NFT based on the principles they create with the new experience:
1. Leveraging NFTs as a value add, understanding that NFTs have three key aspects. These are collectability, earnability, and utility.
2. Maintained Brand Image within the NFT Ecosystem and its sustainability.
3. Focus on User UX, where one can trade NFTs directly on their marketplace with fiat.
The Starbucks Odyssey is the largest NFT loyalty program ever. The Starbucks Odyssey experience successfully leverages the core value add of NFTs while maintaining their brand image and acknowledging the current Web3 areas of UX friction.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.