Updated: Mar 31
Reports said that Starbucks Odyssey, the coffee company’s Web3 loyalty program, released this week its first limited edition nonfungible token (NFT), which it calls “Stamps.”
It has been reported that “Siren Collection” is the last drop of the Starbucks Odyssey Stamp Series. It features 2,000 items representing a version of the company’s iconic Siren. Members of Starbucks Odyssey were able to buy two stamps at 100$ each and could pay by credit card or by connecting their MetaMask wallet.
However, the drop took place on the Nifty Gateway marketplace. Due to the traffic, the site crashed at some point. Therefore, some Discord users reported problems accessing the site and error messages, with the site seemingly overwhelmed by traffic.
The report said that the secondary market is particularly dynamic, with a floor price of 389$ as of this update after reaching 500$. One NFT sold for 1,700$, with a total Secondary market volume of 121,795$. Starbucks launched its Odyssey program on the Polygon blockchain to explore the opportunities offered by Web3 tools. As a matter of fact, the “next-generation loyalty platform”, could help build a new brand relationship between customers and Starbucks.
Likewise, the Starbucks Siren collection is the fifth drop launched by the Odyssey program. The first stamps, “Holiday Cheer Edition 1”, were dropped in December. Their floor price is now 1796$. Starbucks wanted to make the experience friendly for all customers. Even those without knowledge of crypto could buy a Stamps NFT on the primary market, using a credit card. Whereas customers used to NFT Marketplaces could use the MATIC token.
Thus, the “Stamps” NFT collection is another illustration of the way brands use the blockchain to create an enhanced relationship with their customers. At first sight, the drop of the Siren Collection seems to indicate that Starbucks managed its start in the Web3 ecosystem the right way.
Source: NFT Evening