Starbucks Introduces NFT Rewards Loyalty Program

Starbucks (NASDAQ: SBUX) introduced Starbucks Odyssey, set to launch at the end of 2022, its first venture with web3 technology. The move is set to combine the Starbucks Rewards loyalty program with an NFT platform, allowing customers to earn and purchase digital assets for exclusive rewards and experiences. The NFT rewards will be offered through Polygon and Ethereum.

There will be several ways of collecting the tokens, which Starbucks has dubbed “digital collectible stamps.” Amid completing “journeys” games and quizzes, people will earn “journey stamps.”

“Our vision is to create a place where our digital community can come together over coffee, engage in immersive experiences, and celebrate the heritage and future of Starbucks,” said Brady Brewer, Starbucks executive vice president, and chief marketing officer.

The NFT stamps can be purchased with credit cards – cryptocurrency will not be required to “claim an ownership stake in their loyalty to Starbucks.” Furthermore, a Starbucks Odyssey web app will provide a secondary marketplace, allowing owners to purchase and sell the stamps as they wish.