- Popular coffee chain Starbucks has launched NFT-based customer loyalty points through the Odyssey project
- The feature is in beta mode and open to a select few
- The NFTs are powered by the Polygon blockchain
Popular coffee chain Starbucks has dipped its toes into the Web 3.0 space by allowing customers to convert their loyalty points to NFTs through its new Odyssey program. The feature is in beta mode and currently open to a select few chosen from both customers and its workforce that were on the waiting list. The move comes roughly seven months after the coffee chain revealed plans to launch branded digital collectibles as a way to create a digital “Third Place.“
An Engaging Journey with NFT Rewards
Starbucks promises to take participating members on an engaging journey that earns them Polygon-powered “Journey Stamps” NFTs while also receiving Odyssey Points meant to unlock more benefits in the coffee chain’s virtual world.
According to the company, the Odyssey program concentrates on bringing a virtual community of coffee lovers together to share, interact and earn rewards tied to “meaningful elements of Web 3.0 technology.” Starbucks added that it’ll continue adding more members to its beta testing, with those on the waitlist given first priority.
Web 3.0 Delights with Clear Use Case
Those holding Journey Stamps can trade them on Nifty Gateway, where Stamp buyers can use a credit card to pay for purchases instead of cryptocurrencies. Odyssey platform developer, Forum3, told Coindesk that the coffee chain was interested in a project that would “delight” customers by offering rare virtual experiences meant to unveil a “next-generation loyalty platform.”
According to Starbucks’ CMO Brady Brewer, brands still using non-blockchain products are slowly gravitating towards decentralized platforms due to their “clear use case.” The launch of the much-anticipated Odyssey project comes less than three weeks after Nike launched the .Swoosh Web 3.0 platform, confirming a growing appetite for blockchain-based products among conventional brands.