Starbucks is expanding its loyalty-based program with new coffee-themed NFTs which can be collected to earn real-world rewards. This new initiative is starting beta testing within the US.
The Starbucks Odyssey model was launched to enable customers to earn rewards in new ways and dive into the possibilities of Web3. Instead of the standard rewards that most are accustomed to such as a free drink, the Odyssey platform will introduce Journeys that customers can work towards completing by earning collectible stamps.
These Journeys are intended to not only reward loyal customers but also promote Starbucks and teach customers about the history of the brand. By incorporating these new systems with the already realised rewards program, Starbucks is looking to entice its customers into using the new features. Once members earn 500 points in rewards, they can earn stamps. These stamps then unlock special experiences for the customer.
Experiences can vary depending on the level of benefit that the customer earned. At the lowest end, there could be a virtual class that teaches you how to make your favourite coffee beverage. However, the more you earn the better the rewards, and these can begin to include real-world experiences such as special events.
Select users will receive an email invitation to the beta and these members will need to already have an existing Starbucks Rewards account. As users participate, they’ll earn NFTs which also have a value based on their rarity. These NFTs will be able to be bought and sold on the Odyssey’s marketplace which is looking to launch sometime in 2023.
So in addition to a free cup of coffee, Starbucks connoisseurs can look forward to a much deeper rewards program in the future if the beta trial is a hit. It’s also worth noting that customers won’t need knowledge of the workings of blockchain, web3 or even crypto wallets, as the process is intended to be as simple as possible; members can buy the NFT stamps simply with a credit card.
Starbucks has also roped in Adam Brotman, the creator of its mobile order and pay system and the Starbucks app, to serve as a special advisor on Odyssey. Brotman is also the co-founder of web3 loyalty startup Forum3 which recently announced It has secured a $10M seed round. The round saw participation from the likes of Bloccelerate, Liberty City Ventures, and Arca. This new funding and a continued partnership with Starbucks will see the further expansion of Forum3’s Web3 goals.