Starbucks Enters Metaverse With Its NFT Rewards Program ‘Starbucks Odyssey’

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(Kitco News) – Starbucks has officially begun its Web3 journey with the beta launch of Starbucks Odyssey, a new loyalty program made available to a select group of waitlist members made up of customers and employees in the US

The company opened access to the new platform on Thursday, allowing early entrants to take part in Starbucks Odyssey ‘Journeys’, a series of “fun, interactive activities to earn collectible ‘Journey Stamps’ (NFTs) and Odyssey Points that will unlock access to exciting new benefits and experiences, says the announcement.

The world’s largest coffee franchise first announced it was working on the new platform in September when it chose tier-two network Polygon to host the show.

Starbucks Odyssey is an extension of Starbucks Rewards powered by Web3 technology and designed to unlock new benefits and experiences for members.

The first invitations were sent to a small group of waiting list members and Starbucks partners in December. Starting in January 2023, the company will begin sending monthly invitations to a wider group of members on the waiting list.

After completing a “Journey,” members will earn collectible “Journey Stamps,” which are nonfungible tokens (NFTs), and Odyssey Points that will “open access to new benefits and immersive coffee experiences,” the company said. “Starbucks Odyssey is an experience, surrounded by a digital community, where members can come together, interact and share their love of coffee.”

There are a variety of travel activities available, including a virtual tour of the Starbucks coffee farm Hacienda Alsacia in Costa Rica, trivia about Starbucks’ heritage, and interactive games such as Starbucks for life.

“Travel activities are entertaining ways to learn more about coffee, Starbucks history and pop culture and offer opportunities to explore coffee and beverages at Starbucks that may lead to the discovery of a new favorite coffee,” the company said. “When a journey is completed, members will be rewarded with a collectable ‘Journey Stamp’ (a polygon-based NFT) and bonus points towards their total score.

The more stamps members collect, the higher their score will climb, giving access to more benefits and experiences, such as access to unique merchandise and artist collaborations, invitations to exclusive events at Starbucks Reserve Roasteries or trips to the Starbucks Hacienda Alsacia coffee farm in Costa Rica for the highest levels.

Starbucks Odyssey also has a marketplace powered by Nifty Gateway where users can buy or sell Starbucks Odyssey digital collectibles among its members.

This development from Starbucks comes as companies worldwide are showing increased interest in the Metaverse and are looking to establish their presence early.

A recent study by business and technology strategy consultant Capgemini found that 93% of adult consumers surveyed indicated they are curious about Metaverse and interested in learning more about it, highlighting its future growth potential. Companies that establish their presence in the early days will benefit from increased exposure and low competition as the technology is still in its infancy.

Last month, Web3 gaming giant Animoca Brands revealed that it was preparing to launch a $2 billion fund dedicated to investing in metaverse companies. Meanwhile, the list of globally recognized brands that have already established their presence continues to grow, with the likes of Samsung, Coca-Cola, Nike, Adidas, Louis Vuitton, Burberry, Domino’s, Sotheby’s and Atari leading the race to stake their claims. in the Metaverse.