Starbucks Odyssey, the coffee company’s Web3 loyalty program, this week released its first limited edition NFT, which it calls “Stamps.” They sold out in just 18 minutes. Let’s take a look at Starbucks ‘Stamps’!
What is the minimum price of the “stamps”?
“Mermaid Collection” is the last drop in the Starbucks Odyssey stamp series. It features 2,000 items representing a version of the company’s iconic mermaid. Starbucks Odyssey members were able to purchase two stamps at $100 each and pay with a credit card or by connecting their MetaMask wallet.
The drop took place in the Nifty Gateway marketplace. However, due to traffic, the site crashed at some point. Therefore, some Discord users reported problems accessing the site and error messages, with the site seemingly overwhelmed with traffic.
The secondary market is particularly dynamic, with a minimum price of $389 as of this update after reaching $500. One NFT sold for $1,700, with a total secondary market volume of $121,795.
What is Starbucks Odyssey?
Starbucks launched its Odyssey program on the Polygon blockchain to explore the opportunities offered by Web3 tools. In fact, the “next generation loyalty platform”, it could help build a new brand relationship between customers and Starbucks.
The Starbucks Siren Collection is the fifth drop launched by the Odyssey program. The first stamps, “Holiday Cheer Edition 1”, were released in December. Its minimum price is now $1,796.
Starbucks wanted the experience to be friendly for all customers. Therefore, even those with no knowledge of crypto could buy NFT Stamps on the primary market, using a credit card. While customers used to NFT Marketplaces could use the MATIC token.
Finally, the NFT collection of “Stamps” is another illustration of how brands are using the blockchain to create an enhanced relationship with their customers. At first glance, the fall of the Siren Collection seems to indicate that Starbucks handled its start in the Web3 ecosystem in the right way.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, do your own research before making any type of investment.
