starbucks has made an innovative entry into the NFT market with its free Odyssey rewards program, and it has already become a huge success. The program, which uses NFTs to incentivize customers, has made history, with its limited-edition Polygon NFTs now selling for nearly $2,000 each on the secondary market.
Since its launch in December 2022, Starbucks Odyssey’s NFT-powered rewards program has seen huge demand for its NFTs, which are highly sought after assets by collectors. NFTs have seen over 360 sales on the Nifty Gateway marketplace, with total volume traded topping $148,000. The most popular NFT, the “Holiday Cheer Edition 1 Stamp”, has accounted for 80% of the total Starbucks NFT volume traded so far.
The limited-edition stamp was given out for free to Odyssey members who completed challenges and purchased a holiday gift card. The NFT features a red and green Starbucks mug with a pine tree pattern and the year 2022 on the right side. Originally listed as free, the digital collectible now sells for nearly $2,000 on Nifty Gateway with 537 owners and a transaction volume of over $100,000 in the last 30 days.
You have vanished the Starbucks NFT FREE
Now the apartment is at $2000 pic.twitter.com/j1lYlHEof2
— Bark❓ (@barkmeta) February 17, 2023
Starbucks Odyssey Rewards Program: Real Use of NFTs in Business
The Starbucks Odyssey rewards program is based on Polygon, a Layer 2 Ethereum scaling solution that offers faster and cheaper transactions. The program uses NFTs to incentivize users to interact with Starbucks and purchase their products. Users can collect and trade these NFTs on the secondary market, making them valuable assets for collectors and enthusiasts.
The success of Starbucks Odyssey and its NFT-powered rewards program highlights the potential for NFTs to revolutionize the way businesses interact with their customers. NFTs provide a unique way for businesses to reward and incentivize their customers while creating a new revenue stream. NFTs can also help businesses build a community around their brand and engage with their customers in more meaningful ways.
As the NFT market grows, more companies are likely to explore the potential of NFTs and how they can improve the customer experience. The Starbucks Odyssey rewards program has set the benchmark for the effective use of NFTs in business, and we can expect to see more companies following suit in the future.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
NFT and Web3 Ambassador. Bullish on everything related to Blockchain.
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