Starbucks Serves Up Its First Premium NFTs at $100 a Pop


09 March 2023 17:32, UTC


Studying time: ~2 m

Espresso big Starbucks is taking important steps into Web3 with its Starbucks Odyssey rewards program on Ethereum sidechain community Polygon, which is at the moment open in beta to restricted customers. And after dropping a couple of free reward NFTs to early adopters, it’s set to launch its very first paid collectible this afternoon.

Starbucks Odyssey will launch the restricted version Siren Assortment immediately at 3 p.m. ET for beta customers of the platform, providing up 2,000 NFTs that will probably be bought for $100 apiece. Every distinctive piece of art work is impressed by the model’s iconic brand—a “tremendous mermaid,” as the corporate as soon as described it.

“As Starbucks has grown through the years, the Siren has been proper there with us, adapting and evolving to replicate the model and the tradition,” the corporate mentioned of the NFT drop. The two,000 items will collectively be primarily based on 5 completely different Siren “expressions” that observe her “journey from native Seattle movie star to revered international icon.”

Starbucks Sees ‘Unprecedented Curiosity’ as Polygon NFT Rewards Platform Launches

Every person could buy as much as two of the premium NFT stamps, and every comes with 1,500 bonus factors that can be utilized to “stage up” a person’s Odyssey account to earn future rewards.

Starbucks launched the Odyssey closed beta in December, with a consultant telling Decrypt quickly after that the corporate had seen “unprecedented curiosity” from customers wishing to hitch what’s been billed as a next-generation evolution of the prevailing Starbucks Rewards program.

Since then, Starbucks has given away 4 free Polygon-based NFTs to customers for finishing sure in-app challenges. The NFTs have been rewarded for doing issues like finishing trivia challenges concerning the firm, or ordering Starbucks meals and drinks or reward playing cards.

Starbucks Polygon NFTs Are Already Promoting for Hundreds

Regardless of being a free giveaway, the primary Starbucks NFT—the Vacation Cheer Version 1 stamp—has since commanded appreciable worth on the secondary market. Dozens of editions have bought for greater than $1,000 apiece, with the highest sale at $1,900. General, the Nifty Gateway-powered market has dealt with some $222,000 value of secondary gross sales.

Starbucks has mentioned that its NFT-based rewards program will finally provide customers a big selection of potential advantages, together with the power to entry unique digital content material and dwell occasions in shops, in addition to potential journeys—equivalent to a go to to Starbucks’ espresso farm in Costa Rica.

The NFT market took a beating within the latter half of 2022, together with the remainder of the crypto house, however seems now to be selecting up steam: total gross sales surged above $2 billion in February, the best whole since earlier than the market crash final Could.

Subscribe to our mailing list to receive new updates and special offers

We don’t spam! Read our [link]privacy policy[/link] for more info.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button