Following the quick sellout of its initial premium NFT collection “Journey Stamps” last month — with prices reaching thousands — Starbucks Odyssey is releasing a new series today at 12 pm (EST). Better yet, this move hints at the upcoming public debut of the coffee house’s Web3 rewards program.
Quick Takes:
- Starbucks Odyssey launches its “The First Store Collection” today, featuring 5,000 collectibles priced at $100 each.
- Owners of the NFTs will receive 1,500 points on the Starbucks Odyssey platform. Collectors with two Starbucks NFT Stamps will gain early access to the release.
- Addtionally, the new collectibles will introduce Starbucks rewards for beta users on April 24. One of the new benefits includes an immersive coffee experiences at a Starbucks coffee farm in Costa Rica. Points can be earned by completing in-app tasks and making in-shop purchases.
Starbucks’ New NFTs: Key Insights
Today (April 19), Starbucks is launching its First Store Collection digital assets. The non-fungible tokens are set to span 5,000 “Journey Stamp” collectibles minted on Ethereum’s scaling network, Polygon. Like the last drop, all digital assets are $100. Although, the previous collection consisted of just 2,000 NFTs, potentially making them more desirable over there being a limited amount.
The upcoming digital assets are described as being a “multimedia collage of an amalgamation of photographs, in-store designs, and notable symbols.” Moreover, the NFTs showcase in-store textures inspired by the chain’s first store in Pike Place Market, Seattle.
These collectibles will grant users 1,500 points as rewards via the Starbucks Odyssey platform. Additionally, users with two Starbucks NFT Journey Stamps can enjoy early access to today’s release.
Following the drop, Starbucks Odyssey’s new collection will also unveil numerous Starbucks rewards for beta users on April 24. These unique new benefits include immersive coffee experiences, NFT art, trips to a Starbucks coffee farm in Costa Rica, coffee classes, a virtual coffee preparation class, a custom Starbucks tumbler, and more. Naturally, the higher the tier, the better the rewards. However, points for opening up the rewards are also easily earnable by completing in-app tasks, like engaging with Starbucks content and buying drinks.
Starbucks’ History in Web3
Starbucks Odyssey began offering free NFT stamps to early adopters in December, which led to a surge in demand for the company’s debut NFT. Following the success, the initial Holiday Cheer Edition 1 stamp has been resold by NFT enthusiasts for around $2,085 on the official Nifty Gateway secondary marketplace. The lowest price for a limited edition Stamp is approximately $1,050.
Furthermore, in March, Starbucks launched its Premium Stamp NFTs, the Siren Collection. These NFTs also quickly sold out, with all 2,000 NFTs being snapped up within just 18 minutes. Initially priced at $100 each, the Siren NFTs sell for around $500 apiece on secondary marketplaces.
Following the success of its recent drops, Starbucks Odyssey NFTs generate more than $1 million in trading volume to date.
Due to having a record of rapid mainstream adoption and continuously growing volume, the First Store Collection collectibles are expected to boost the NFT market and reap more NFT sales. Therefore, solidifying Starbucks position as a frontrunner in the new dimension of digital assets and of an innovative coffee movement.
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