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Starbucks released its plans for the NFT program Starbucks Odyssey on September 12. The program, much like its name, promises to take its customers and partners (employees) on a journey through the land of coffee. Members can already sign up on the waiting list, as the program will fully launch later this year. Read more here about other new cryptocurrencies and NFTs.
Revolutionary customer relations
Through the Starbucks Odyssey program, the company will become world-leading in integrative loyalty programs. The program will be part of the company’s “Third Place”-image and policy, by which they mean to be the in-between and linking community between work and home. The policy encompasses the 3 C’s: coffee, connection, and community.
The program will run on Web3, which is the blockchain internet through which play-to-earn video games and NFT trading programs run. The step to the Web3 will ensure that the Third Place isn’t static, but maintains a cut-edge innovative approach to interpersonal relations. Starbucks Odyssey will only be available to members in the US.
Collectible journey ‘stamps’ can lead to Costa Rica
There are several layers and ways for Starbucks members to interact on the Odyssey. Like many other NFT programs, members will be able to trade and purchase non-fungible tangents (NFTs), or ‘stamps’, on the platform, as well as play interactive games. They can also quiz their knowledge on both coffee and the company itself.
The various stamps are graded differently based on their rarity, and limited edition stamps will be up for purchase. The stamps can be bought with credit card, as cryptocurrency or a crypto wallet is not a requirement to use the program. As members gain more NFTs they may be eligible to unlock benefits, including unique merchandise, event invitations, or even a trip to Starbucks’ coffee fields in Costa Rica.
Program sticks true to company values
Despite delving into a new and rapidly expanding crypto business, Starbucks has taken several measures to ensure that the Odyssey program stays true to company values. For example, the blockchain program will run on a proof-of-stake blockchain rather than a proof-of-work blockchain which requires substantially more energy. Furthermore, proceeds from the sale of limited edition stamps will go to Starbucks’ charity partners.
Lastly, the lack of prerequisites such as a crypto-wallet or cryptocurrency maintains Starbucks’ focus and priority on widespread education. The company is supporting this cause with another program that offers classes on student loan management to their employees.