Last Updated on May 18, 2023
Quick take:
- Starbucks is dropping its second premium NFT collection following a successful first NFT drop.
- On April 19, the coffee chain will offer 5,000 NFT stamp collectibles minted on Polygon.
- Starbucks also hinted a public launch of Starbucks Odyssey is not far away.
Starbucks is launching its second NFT collection on Wednesday. The coffee chain will drop the First Store Collection on April 19 featuring 5,000 NFT stamp collectibles. This launch comes on the heels of a successful first NFT drop last month, which saw the company sell out 2,000 NFTs in minutes.
The 5,000 NFT stamps will be sold at a price of $100 apiece, the same price the first collection went for. The NFTs will be minted on the Layer 2 Ethereum scaling protocol Polygon.
The NFT collection drop is an extension of Starbucks’ partnership with Polygon, which began with the launch of the NFT loyalty program Starbucks Odyssey in September last year.
Starbucks started beta-testing the Odyssey Rewards platform in December last year, gradually adding new users over the past few months.
The company is rewarding Starbucks Odyssey app beta testers with a series of perks based on how many points they have collected in an exclusive offer to be rolled out on April 24.
According to the announcement, purchasing one NFT stamp collectible earns the collector 1,500 points which can be redeemed for various perks including some premium rewards like “the ability to name a tree at Starbucks’ Costa Rican coffee farm, a personalized MiiR 360 tumbler with owned NFT artwork on it, or a select free in-store drink every day for 30 days.”
The company is also giving early access to the Wednesday drop to those who hold at least two Starbucks NFT stamps.
With the Starbucks Odyssey app having been beta-tested for just over four months now, the US restaurant chain hinted the public rollout could be soon. According to Decrypt, the company sent out an email to beta testers of the platform on Tuesday with the subject line “We’re Getting Closer”.
Starbucks Odyssey is an extension of the company’s popular rewards program. In December, a Starbucks representative hailed the customer response to the NFT-based loyalty program. The program allows customers to earn points by participating in interactive activities called journeys, with 500 points earning them an NFT stamp.
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