Starbucks Odyssey, a loyalty program by the coffee giant, has unveiled its debut limited edition non-fungible tokens (NFTs) known as “Stamps.” The program is currently in its beta phase and accessible through invitation only. The members can earn Stamps by taking quizzes and making in-store purchases. These Stamps can be collected or sold on Nifty Gateway, an NFT marketplace.
The 2,000-item “Siren Collection” displays a rendition of the company’s trademark Siren; the stamps are priced at $100 each. Starbucks Odyssey members had the option to buy two stamps either by using their credit card or by linking their MetaMask wallets.
The Starbucks Odyssey Discord group members complained about access issues and error warnings at the site’s introduction, suggesting that the site was overloaded with traffic.
Notwithstanding the problems, the collection sold out in 18 minutes, and aftermarket sales skyrocketed almost immediately. As of this release, the floor price for a Siren Stamp has already surpassed $550.
Journey-unlocked NFT Stamps are already available on the Nifty Gateway secondary market, with the “Holiday Cheer Edition 1 Stamp” floor price reaching $1,398 and a trading volume of $170,636 as of this writing.
Starbucks launched its Odyssey program on the Polygon blockchain and intended to make the experience accessible to non-cryptocurrency natives by stressing the possibility of purchasing Stamps using a credit card. Andy Sack, co-founder and co-CEO of Forum3, which teamed with Starbucks to launch the initiative, stated that Odyssey is a “next-generation loyalty platform” designed to foster brand engagement between Starbucks and its customers.