- The program is an expansion of Starbucks’ current Starbucks Rewards program.
- Customers may buy limited-edition NFT stamps from the company.
Polygon is an Ethereum scaling network that Starbucks will use to provide NFT rewards to its consumers. In exchange for NFTs, users may get access to premium features and content including exclusive merch and exclusive event tickets.
Launching later this year, the Starbucks Odyssey initiative will provide a means for US consumers and staff to collect, display, and exchange digital stamps, as well as receive digital stamps as rewards. NFTs, or blockchain tokens, representing ownership of digital items and artwork will be minted for each stamp.
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The program is being marketed as an expansion of Starbucks’ current Starbucks Rewards program, and it will allow consumers to collect “journey stamp” NFTs by completing tasks and playing interactive games via the coffee chain’s app.
To “claim an ownership stake in their loyalty to Starbucks,” as the firm puts it, customers may buy limited-edition NFT stamps from the company using a credit card rather than cryptocurrency. Stamp owners will be able to purchase and sell their collectibles on a secondary market via a Starbucks Odyssey online app.
Since NFTs increase a user’s level in the Odyssey app and unlock benefits like virtual drink-mixing workshops, special products, admission to private events, and even a trip to Starbucks’ Costa Rican coffee plantation, there will be incentives for users to collect these stamps. The business has said that it would donate a percentage of the revenues from the sale of NFTs to charitable organizations.
Transactions on Polygon, an Ethereum sidechain, can be processed more quickly, cheaply, and efficiently than on the Ethereum mainnet. Companies like Coca-Cola and Reddit have launched NFTs on Polygon. Furthermore, Disney chose Polygon for its Web3 accelerator programme this past summer, demonstrating the platform’s popularity among brand partners.
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