Starbucks Forays Into Web3 & NFTs By Launching Starbucks Odyssey

Starbucks is launching its new Web3 venture dubbed Starbucks Odyssey Under this new venture, users will be able to trade new NFT stamps which will enable them to explore new rewards and “immersive virtual experiences.”

Coffee beverage giant Starbucks has finally unveiled its much-awaited web3 venture dubbed Starbucks Odyssey which will permit users to unlock unique digital rewards and experiences.

Starbucks Explores Web3, Launches A New Venture Called Starbucks Odyssey

Starbucks has unveiled its newest crypto web3 venture dubbed Starbucks Odyssey. Launched in collaboration with Polygon, Starbucks will be offering its members the ability to purchase and sell unique NFT stamps which its users can acquire to unlock new virtual experiences.

“New Starbucks Odyssey experience will offer members the ability to earn and buy digital collectible stamps (NFTs) that will unlock access to new, immersive coffee experiences.” the announcement reiterated.

For now, the Starbucks Odyssey venture can be accessed by its reward members and partners living in the United States. The members can buy the newly launched digital collectible or NFT stamps that may help them unlock new benefits and explore some “unique and immersive coffee experiences ” how the brand has curated because of its global group of fans.

Dubbed being an extension with the industry-leading Starbucks Rewards Program, members can collect these stamps by logging to their accounts and completing some interactive games and quizzes. After completing these challenges addressed as “journeys,” users can collect their NFT stamps as an incentive that may later be redeemed to explore a lot of unique virtual experiences curated by Starbucks.

The firm has further launched limited edition stamps or NFTs which may be purchased from the built-in marketplace within the Starbucks app. These NFTs can be bought through a charge card and can not need a crypto wallet to facilitate the purchase of the stamps.

“Members may also purchase ‘limited-edition stamps’ (NFTs) by way of a built-in marketplace inside the Starbucks Odyssey web app experience. Limited-edition stamps will undoubtedly be designed for all members to get directly with credit cards. No crypto wallet or cryptocurrency will undoubtedly be required – making the Starbucks Odyssey experience fun and easy method for members to gain access to this new technology and claim an ownership stake within their loyalty to Starbucks.” the announcement later adds

Each NFT stamp includes a unique rarity value that users can further exchange inside the Starbucks ecosystem. The greater stamps an associate collects, the greater susceptible he could be to unlocking specially curated immersive web3 experiences such as having access to a virtual espresso martini class to collect invitations to special events planned and launched by Starbucks.

“Each digital collectable stamp will include a point value based on its rarity, and the stamps can be bought or sold among members within the marketplace, with ownership secured on a blockchain. As stamps are collected, members’ points will increase, unlocking access to unique benefits and experiences that have never been offered before. 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.” the announcement further adds.

Per the announcement, the stamps will be featuring the iconic Starbucks artwork created by its partners and outside artists. Furthermore, a portion of the proceeds generated from the sale of these stamps will also be donated to “support causes that matter to Starbucks partners and Starbucks Rewards members.”

“As one of the first companies to integrate NFTs with an industry-leading loyalty program at scale, Starbucks will create an accessible Web3 community that will enable new ways to engage with members and partners (employees).”

Speaking about Starbucks newest Web3 initiative, Brady Brewer, Starbucks executive vice president, and chief marketing officer added:

“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…By integrating in to the Starbucks Rewards ecosystem and grounding the knowledge in coffee, connection, and community, we have been entering the Web3 space differently than any brand, while deepening our members’ link with Starbucks. Our vision would be to develop a place where our digital community will come together over coffee, take part in immersive experiences, and celebrate the heritage and future of Starbucks.”

To gain access to the service offered beneath the Starbucks Odyssey initiative, users will undoubtedly be necessary to join a waitlist beginning with September 12. The venture is ready to move live by the finish of the year.