• The Starbucks Odyssey loyalty program has released its first limited edition NFT drop, called “The Siren Collection.”
• Members of the program were able to purchase up to two stamps featuring the iconic siren for $100 each.
• Despite some initial issues with accessing the site, the collection sold out in 18 minutes and secondary sales have soared above $550.
Starbucks Odyssey Releases ‘The Siren Collection’
Starbucks Odyssey, the coffee company’s Web3 loyalty program, today released its first limited edition non-fungible tokens (NFT), which it calls “Stamps.” The 2,000-item “Siren Collection” features a version of the company’s iconic Siren, with the stamps priced at $100. Members of Starbucks Odyssey were able to buy two stamps each starting at 12 p.m. ET, and could pay by credit card or by connecting their MetaMask wallet.
Initial Issues Occur During Launch
Upon launch, members of the Starbucks Odyssey Discord group complained of problems accessing the site and error messages, with the site seemingly overwhelmed by traffic. Despite these issues however, the collection sold out in 18 minutes and secondary sales quickly soared. As of this update, the floor price for a Siren Stamp has already passed $550.
Unlock NFT Stamps from Completing Journeys
In addition to purchasing Stamps from The Siren Collection drop event members can also unlock NFT Stamps from completing Journeys in Starbucks Odyssey rewards program as well as participating in exclusive events such as virtual coffee tastings or trivia contests.
Starbucks Rewards Program Still in Beta
The invitation-only beta rewards program allows members to complete activities such as quizzes and in-store purchases to earn Stamps which can then be collected or resold on Nifty Gateway.
The release of The Siren Collection marks an important milestone for both Starbucks and Web3 as it demonstrates how companies are increasingly leveraging blockchain technology and digital collectibles to engage consumers through gamification and reward programs while creating additional value for customers through non-fungible tokens that are unique digital assets representing real world goods and services.