Starbucks launches first paid NFT on own web3 platform

Starbucks, the well-known American coffee chain, launched the beta version of its own web 3.0 initiative called Starbucks Odyssey in December 2022. Three months earlier, they joined forces with Polygon (MATIC), a layer-2 scaling network on top of Ethereum (ETH).

After launching four free non-fungible token (NFT) collections, it has now released its very first paid collection.

Limited edition NFT collection

Starbucks Odyssey launched a limited edition NFT collection for all beta users yesterday at 3:00 PM CEST. ‘The Siren Collection Stamp’ consists of a total of 2,000 NFTs and costs $100 each. Each NFT is inspired by the coffee chain’s iconic logo, a “super mermaid” as the company once described it.

As mentioned, this new collection is the first paid collection on Starbucks Odyssey. Recently you could read in the NFT news that some early birds had made nice profits on an NFT collection that could be earned by completing journeysa series of online Starbucks-related activities.

Starbucks describes the new collection as follows:

Starbucks has grown over the years; the Siren has always been with us, adapting and evolving to reflect the brand and culture. This collection – inspired by five of our most memorable Siren expressions and based on our deep coffee stamp archives – consists of 2,000 unique pieces that trace her journey from local Seattle celebrity to revered global icon.”

Each user could purchase up to two of the premium NFT stamps. Each of these NFTs also comes with 1,500 bonus points that can be used to “level up” a user’s Odyssey account to earn future rewards. The 2,000 NFTs are all sold out and only available on the second-hand marketplace.

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How does the web 3.0 initiative work?

By participating in journeys, points can be earned that lead to unlocking digital stamps in the form of an NFT. However, NFTs can also be offered on their own marketplace, just like with the Siren collection. One does not need crypto to purchase such a digital stamp.

The NFTs are recorded on Polygon’s blockchain and provide access to exclusive benefits and experiences.

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