Starbucks, one of the world’s most famous coffee brands, launched today its first paid collection of NFTs. The digital stamps were a group of 2,000, priced at $100 each, and contained a total of 2,000 stamps. This is worth mentioning, since the coffee company calls its NFTs “Journey Stamps” rather than “NFTs,” which sounds like a less technical term for NFTs. In spite of this, it is true that people did purchase them in the end. The latest reports say that Starbucks’ NFTs sold out in under 20 minutes – coffee is not included in the NFTs ????
Starbucks Sold Its First Paid Set Of NFTs In Quite Less Time
This coffee company launched its NFT and Web3 back in December of last year, and I wanted to let you know about it. It was the time when it opened up a new membership program called Starbucks Odyssey. What is Starbucks Odyssey? In fact, it is an extension of the existing Starbucks Rewards program, which offers its customers perks like free drink upgrades and other perks in exchange for their loyalty. With the membership program, customers will be able to experience new benefits and immersive coffee experiences that they will not be able to get anywhere else, the company claims. There is even the chance for its members to take quizzes, play games, and make purchases on the site.
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There are also rewards available at higher membership levels, such as virtual classes, access to merchandise, or a chance to visit a Starbucks coffee farm if you are a member. Taking note of the fact that there is no possibility of receiving free coffee as a reward here, it is noteworthy. It is even possible to level up a member’s tier by purchasing a NFT, which will give the member additional “points.”.
In the past couple of years, dozens of big brands have used NFT towels, including some of the biggest names in the world. The following is a non-exhaustive list of examples:
- Taco Bell
- Nike
- Adidas
- Paramount
- GameStop
- Few celebrities via a revamped LimeWire
- NBA
- CNN
In this case, the question arises as to how Starbucks’ “stars” will now have a lower value under the updated rewards program that the company announced earlier this year in connection with the company’s new rewards program. As a result of the shrinking of the original virtual coffee tokens, we could say that they have undergone shrink-inflation. I think that selling a whole bunch of new digital tokens when times are tough makes a lot of sense. Would you mind telling me what you think about this?
