The American corporate giant Starbucks recently unveiled its Web3 expansion strategy with the launch of the beta version of Odyssey. The newly unveiled loyalty program features non-fungible tokens (NFTs), open to a limited set of members.
According to the company’s announcement, its loyalty program is open to a select group of members on its waitlist, including some customers and employees in the United States.
The selected participants will participate in the Starbucks Odyssey adventures. These adventures include entertainment and other interactive events to earn unique NFT collectibles, “Journey of Stamps,” and Odyssey Points.
Furthermore, the earned points will enable participants to access other benefits and exclusive experiences, as revealed by the company. The US-based supply chain behemoth disclosed that the loyalty program is part of Starbucks Rewards, driven by Web3 technology and designed to provide members with exciting benefits.
The firm’s statement reads, “once users log in, they can participate in Journeys, a slew of interactive activities they can complete to earn rewards. The activities include a virtual tour of the company’s coffee farm based in Hacienda Alsacia, Costa Rica, some trivia about the platform’s heritage, and other interactive games.”
Accordingly, at the start of December, Starbucks sent out an exclusive invitation to some selected waitlisted customers and employees. But by January 2023, Starbucks intends to send out further invitations to a more extensive set of members already on the waitlist.
According to Brady Brewer, Starbucks’ chief marketing officer, the latest move is an extension of the company’s activity to connect emerging technologies to its platforms and bring diverse customers on board.
Leveraging Web3 To Connect With Members
With the increasing adoption of Web3 technologies among top brands, Starbucks seeks to harness the platform to reward users and connect with members in diverse ways.
The company intends to explore new ways to offer digital collectibles, ensure members own digital stamps and build digital communities. It would also enable access to some benefits and immersive experiences for coffee fans in the physical and virtual realms.
Brewer confirmed that after the beta launch, Starbucks would allow members access to the Starbucks Odyssey ecosystem, powered by Nifty Gateway. Upon access, members could buy and sell Starbucks Odyssey digital stamps among themselves through the Polygon blockchain network.
Furthermore, in 2023, members could purchase unique limited-edition NFTs through the Odyssey marketplace. In addition, selling the NFT collectibles will include the company’s sections for charitable donations, which are at the core of Starbucks’ partners’ pledges.
The Web3 technology’s adoption has been gaining traction among several traditionally established firms in recent years. Due to the crypto market correction, the NFT industry has witnessed a significant slump over the past few months. However, interest in the sector is rising.
Starbucks has now joined the list of top brands taking a plunge into the NFT ecosystem to serve their growing customer base.
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