Starbucks and Nike launch new NFT collections

Starbucks and Nike launch new NFT collections

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(Kitco News) – Starbucks has doubled down on its commitment to the non-fungible token community with the launch of its second NFT collection on the Polygon network, dubbed “The Starbucks First Store Collection.”

The new NFT collection, available for purchase on the Nifty Gateway NFT marketplace, features artwork depicting the company’s first location in Seattle’s Pike Place Market, which opened in 1971.

“Experience the first Starbucks store in a whole new way,” the company wrote on the explanation page for the new NFTs. “This collection encapsulates that same experience in each unique piece of art, depicting a variety of elements from our home at 1912 Pike Place. With the Starbucks First Store Collection, you can own a piece of history.”

The new collection, which goes on sale at noon PST on Wednesday, features 5,000 limited-edition stamps, each priced at $100. Early adopters of the Starbucks NFT ecosystem who already own two or more ‘Journey Stamps’ will be able to access the collection from 9:00 a.m. PST. There is a limit of one stamp per person.

Starbucks first revealed its intention to enter the Web3 arena last May when it announced plans to launch its own NFT collection in the second half of 2022 to give users access to exclusive content and other benefits.

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In September, the coffee company announced that it had chosen the Polygon network to host its new collection due to the low-cost and high-speed nature of the layer-two protocol.

The beta launch of ‘Starbucks Odyssey’, an extension of Starbucks Rewards powered by Web3 technology, took place in December. The launch allowed early entrants to engage in Starbucks Odyssey ‘Journeys’, a series of interactive activities that enabled them to earn collectible ‘Journey Stamps’ (NFT) and Odyssey Points that unlock access to new benefits and experiences, such as early access to ‘First Store’ NFT launch.

Last month, Starbucks launched the ‘Siren Collection’, its first paid collection of NFTs. The 2,000-item collection, which featured a version of the company’s Siren logo, reportedly sold out in under 20 minutes. Each stamp was priced at $100, and they currently sell for a minimum of $495, representing a gain of nearly 400%.

Nike brings digital shoes to the metaverse

On Monday, American footwear and apparel manufacturer Nike announced that it will soon launch its first NFT sneaker collection on .SWOOSH, the company’s platform for virtual creations.

The new collection, called “Our Force 1 (OF1),” is co-curated by the .SWOOSH community and “built for the digital generation,” Nike said in the press release. “The OF1 is a tribute to the first 50 years of Nike and a tribute to the creativity and versatility of the Air Force 1.”

Nike offers users a choice between two digital “boxes”, the Classic Remix box and the New Wave box. Each box contains an OF1 – which is a digital representation of an Air Force 1 – and can be purchased for $19.82.

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Classic Remix boxes feature AF1 designs from 1982 to 2006, with a chance to win a “custom AF1 with a nostalgic twist.” New Wave boxes offer AF1 designs from 2007 and later, “or an expressive, custom AF1 with a more futuristic twist.”

Starting Tuesday, Nike will begin airdropping AF1 posters, which unlock the ability to purchase an OF1 box, on Swoosh.Nike to randomly selected .SWOOSH members. Poster recipients will get first-time access to the OF1 sale starting on May 8. General access to the NFT sale starts on 10 May.

Each OF1 also comes with a 3D file that the owner “can download and use to express themselves in new ways.” According to Nike, .SWOOSH will roll out other new tools and benefits for the NFTs over time, such as exclusive physical products or experiences.

“The OF1 collection demonstrates how Nike will continue to innovate at the intersection of play and culture for the future of sport,” said Ron Faris, GM of Nike Virtual Studios. “We’re exploring new ways to tell stories and create relationships while removing the barriers and limitations of physical products. With more members choosing to express themselves across physical and digital worlds, .SWOOSH is the marketplace of the future.”

Disclaimer: The views expressed in this article are those of the author and may not reflect the views of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not an invitation to exchange goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept responsibility for any loss and/or damage arising from the use of this publication.

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