Starbucks Announces NFT Platform: Starbucks Odyssey

Starbucks today officially unveiled the Starbucks Odyssey and announced that it will launch it later this year. This is Starbucks’ first step in its combination with web3 technology. The new experience combines the company’s successful Starbucks Rewards loyalty program with an NFT platform, allowing customers to both earn and purchase digital assets that unlock exclusive experiences and rewards .

The company has previously offered web3 plans to investors and said it believes this new experience will build on the existing Starbucks Rewards model, where customers earn “stars” that can be exchanged for benefits like free drinks today. Starbucks envisions the Odyssey as a way for its most loyal customers to earn a wider set of rewards while also building a community .

Starbucks executive Brady Brewer told TechCrunch that Starbucks has been researching blockchain technologies for several years, but has been involved in this project for about six months.

Starbucks Announces NFT Platform: Starbucks Odyssey

Starbucks Odyssey Will Serve NFT Trading

A set of limited edition NFTs will be available for purchase on the Starbucks Odyssey web app, which also works on mobile devices . Although hosted on the Polygon blockchain, these NFTs can be purchased using a credit or debit card. Therefore, a crypto wallet will not be necessary . The company believes this will lower the barrier to entry, making it easier for consumers to participate in the web3 experience.

The company is not yet ready to share how much its NFTs will cost or how many will be available when they are released, and says these are still decisions being considered.

The company says the web3 platform has launched its waitlist (waitlist.starbucks.com) and will launch it later in the year .