The hype around NFTs hasn't been as loud recently, but it appears that the trend winding down did not stop Starbucks from selling its own. The famous coffeehouse company sold 2,000 digital stamps in just 20 minutes after its release.
Starbucks in the NFT Market
The go-to coffee place just launched its very own NFTs, which consist of 2,000 digital stamps that cost $100 each. Starbucks' name for the NFT is officially "Journey Stamps," making it sound somewhat less digital and more like a physical collectible.
The NFT was actually first launched in December, along with its new membership program named Starbucks Odyssey, according to The Verge. Just like other Starbucks programs, it also grants customers perks like free drink upgrades.
Customers would get to do games and quizzes as well, aside from simply purchasing. This will give them the chance to get rewards such as virtual classes, exclusive Starbucks merchandise, or even get a free trip to one of the company's coffee farms.
To purchase the Journey Stamp, which has already been sold out, you will have to be a Starbucks Odyssey member. Even then, each person can only purchase two Stamps from the collection which was revealed at 12:00 PM PST today.
Journey Stamp
The Stamps can be used to level up in Starbucks Odyssey for 2023, and each will grant its buyer 1,500 points. The bonus points will expire by the end of the year on December 31st, 2023, and the promotion value only applies to the Odyssey Program only.
The Stamp cannot be sold or transferred as well. According to the Odyssey market website, any sale or transfer of the asset will lead to a deduction of bonus points from the Starbucks Odyssey annual point total of the person.
Purchased at $100, the Starbucks NFT from the Siren Collection Stamp is now trading at $600 on secondary just 50 minutes after it was sold out. That's good news for the 1,141 unique owners who bought the Starbucks Stamp.
Its average sales price is $439.41, which is up by 339%. The highest active order, according to the post of Europa CEO Greg Norman Jr., is at $444. If you wish to be a member of the Starbucks Odyssey Program, you'll have to register to join the waitlist.
Starbucks odyssey just did their first paid nft sale. 2000 tokens at $100, now trading at $600 each on secondary 50 minutes later. <15minutes to sell out from the current odyssey members only. 2 per member. pic.twitter.com/jvBpmMP5ud
— Greg Norman Jr (@GregJrNorman) March 9, 2023
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Starbucks Odyssey
Starbucks Executive Vice President and Chief Marketing Officer Brady Brewer expressed that Starbucks Rewards members are some of our most loyal and engaged customers. The Starbucks Odyssey program extends to the company's innovation for said customers.
Through Web3 technology, Starbucks' goal is to reward and connect with loyal members in new ways like offering collectibles, digital stamps like Journey Stamps, a new digital community, and new benefits. It's also to initiate " immersive coffee experiences - both physically and digitally."
Stamps can be used to advance in the three levels within the program, which will have benefits and experiences to be unlocked, each more unique as the members level up. Benefits include virtual espresso martini-making classes and access to unique merchandise.
Related: Starbucks Rewards Members Can Now Use Venmo for Payment
