Starbucks Ends NFT Loyalty Program on Polygon Blockchain
Starbucks has decided to discontinue its loyalty program that rewards participants with non-fungible tokens (NFTs) minted on the Polygon (MATIC) blockchain. The Starbucks Odyssey program, which was introduced for beta testing in December 2022, allowed members to earn NFTs called “Journey Stamps” and bonus points through themed activities.
Program Discontinuation
After almost two years, Starbucks announced on Monday that it will be ending the Odyssey program. The coffee giant stated that the program will officially end on March 31st, and members will have until March 25th to complete any remaining Journeys. Starbucks explained that the decision to discontinue the program is part of their ongoing evolution of loyalty programs.
NFT Accessibility
Even though Starbucks is shutting down the loyalty program, the Journey Stamps will still be accessible on the NFT marketplace Nifty Gateway. These digital collectibles can also be traded on other platforms. Starbucks confirmed that the Odyssey marketplace will transition to the Nifty marketplace, allowing users to continue buying, selling, and transferring their stamps there. Members can also withdraw their Stamps to an external wallet and trade them on other platforms.
Interest in Starbucks NFTs
Some collectors have shown significant interest in Starbucks’ NFTs. For example, the Holiday Cheer Edition stamp released in December 2022 sold for an average price of $883.20. Additionally, when the 2,000 Siren Collection stamps were launched in March last year at a price of $100 each, they sold out within minutes.
Hot Take: Starbucks Bids Farewell to NFT Loyalty Program
Starbucks has made the decision to end its loyalty program that rewarded participants with non-fungible tokens (NFTs) minted on the Polygon blockchain. The program, known as Starbucks Odyssey, allowed members to earn NFTs called “Journey Stamps” and bonus points through various themed activities. However, after nearly two years, Starbucks announced that the program will be discontinued on March 31st.
Although the program is ending, members can still access their Journey Stamps on the NFT marketplace Nifty Gateway. They can continue buying, selling, and transferring their stamps there. Starbucks’ decision to discontinue the program is part of their ongoing evolution of loyalty programs.
Despite the program’s closure, Starbucks’ NFTs have gained attention from collectors. The Holiday Cheer Edition stamp released in December 2022 sold for an average price of $883.20, demonstrating the popularity of Starbucks’ digital collectibles.
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