With fall finally here, nothing beats grabbing a classic pumpkin-spice latte from your local Starbucks.
However, the iconic chain managed to take that experience to the next level by adding a digital twist for its members.
Now, you can earn NFTs from the company, which may be worth thousands of dollars.
But do these new rewards sound too good to be true? Let’s look into the details and see what we can find!
The State Of NFTs In 2023
Before getting into Starbucks’ new program, let’s chat about NFTs and where they are today. Non-fungible tokens, or NFTs, have exploded recently, with many crypto enthusiasts seeing them as the “new frontier” for investing. Many celebrities also jumped on the bandwagon and created tokens of their own.
But even with all the hype surrounding them, an oversaturation of the NFT market has left over 23 million people with worthless tokens.
Still, NFTs aren’t dead just yet. This market is still set to have an average growth rate of 18% until 2027.
Furthermore, companies like Starbucks are trying to use these tokens for more than the meme art or entertainment they’ve been known for until now.
Main Details About Odyssey’s New Program
Starbucks isn’t a brand to be left behind in any trend, and the world of Web3 and NFTs is no different. The company launched its ‘Odyssey’ program in December 2022 to extend its rewards program.
But why is this such a big deal?
Well, Odyssey isn’t a standard rewards system. It’s a new feature that offers digital rewards in the form of NFTs. Instead of getting the usual free coffee, you get a unique digital asset from which you can potentially make money in the future!
How To Get Your Hands On These Valuable Tokens
Are you ready to give Starbucks’ new tokens a try? Join the company’s Odyssey program, complete “journeys,” and earn stamps!
These journeys are a mix of online games, quizzes, and activities. The more you do, the more stamps and Odyssey Points you earn.
The best part? These stamps are more than simple collectibles. They’re the ticket to exclusive experiences and can be shared in their digital community.
Starbucks also occasionally offers these stamps for direct purchase if you’re not into gaming.
But keep in mind that these often sell out fast. Earlier this year, Starbucks sold these tickets for $100, and 2,000 were bought in just minutes.
Why Is Starbucks Doing This?
Starbucks is trying to find new ways to engage its customers by offering them new experiences and an opportunity to have their own NFT.
Through these Odyssey challenges, ranging from watching videos to visiting specific stores, the company can collect massive amounts of data about customer preferences.
Plus, there’s that small incentive of potential profit. Some of these stamps have been resold for up to $2,000, so it could be a win-win situation for everyone.
Are Starbucks’ NFTs Worth The Hype?
The answer to this question depends on who you ask.
For cryptocurrency enthusiasts and trendsetters, it’s a resounding yes. They can resell them, the tokens are unique, and they offer a glimpse into what customer loyalty programs could look like in the future.
But what about the average person who wants to enjoy a complimentary coffee now and then? Only time will tell whether the program will become more mainstream.
The Bottom Line
Starbucks Odyssey is an exciting step towards the future of loyalty programs. Given how far NFTs have evolved, I wouldn’t be surprised if other major companies follow suit.
Whether you’re in it for the coffee or the NFTs, the coffee chain has set a new trend in customer rewards.
So, next time you’re sipping on a holiday frappe, you might be lucky enough to earn it as a unique digital token!
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