Last Thursday, the American company Starbucks, which owns a chain of coffee houses, issued two thousand non-fungible tokens (NFT) at $100 each as part of the Starbucks Odyssey loyalty program, which were sold out in just 20 minutes.
Image Source: Starbucks
The activity of potential buyers was so high that the website of the product collapsed for a while. Soon after, users were reported to brag about their purchases on social media.
Starbucks Odyssey, a new NFT-based loyalty program launched last December, is an extension of the Starbucks Rewards loyalty program using web3 technology, allowing users to earn digital assets that can be spent on exclusive services.
Starbucks refers to its NFTs as Journey Stamps. Members of the program can earn “stamps” by participating in quizzes and ordering milk replacer coffee. For some time now, it has also become possible to buy them. Earning an NFT gives program members additional “points” that they can use to level up and earn rewards, including virtual classes, merchandise purchases, or a trip to a Starbucks coffee farm at higher membership levels. Notably, free coffee is not listed as a possible reward.
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