Starbucks is launching its first NFT collection this week
Starbucks is launching its “First Store Collection” NFTs on April 19 as part of its Odyssey Web3 rewards program.
First Store Collection to feature 5,000 NFTs
The First Store Collection features 5,000 NFTs, each at $100, and will include a multimedia collage of photos, prominent icons, and in-store textures.
The collection was inspired by the coffee giant’s first store in Pike Place Market in Seattle, with unique digital souvenirs representing the Starbucks brand. The First Store Collection comes after the Holiday Cheer Edition 1 and the Siren NFT collections, successful launches.
Notably, the users who hold two Starbucks NFT stamps will have early access to the new collection. In addition, an NFT will earn app users 1,500 points in rewards.
The new collection is part of the Starbucks Odyssey web3 rewards program. The program is tailored to bring unique rewards to its customers who use NFTs and blockchain technology.
Users who engage with the brand’s content and buy drinks from its stores will earn points. These points will be used to access rewards such as a donation to Feeding America and virtual coffee preparation. In addition, users can name a tree at Starbucks’ coffee farm in Costa Rica and even receive a custom Starbucks tumbler with the user’s NFT art.
Starbucks Odyssey brings more rewarding experiences
Meanwhile, Starbucks has been testing Odyssey, its web3 platform, which aims to bring more immersive and rewarding experiences through blockchain technology. In addition, it is paving the way for mainstream adoption. The platform has passed beta testing and will soon be accessible to the public.
Starbucks issued new users free NFT stamps in December, and their demand began surging. The initial Holiday Cheer Edition 1 stamp has since been resold for $2,085 on Nifty Gateway, with the lowest at around $1,050.
Conversely, the Siren Collection came in March, and all 2,000 NFTs were sold out in 18 minutes. Initially, the collection cost $100 each and is now trading at around $500. As for the new collection, the NFTs are expected to sell out fast, considering the success of the prior NFT drops.
