Starbucks has launched the long-awaited blockchain-based update to its rewards loyalty program, utilizing coffee-themed NFTs based on real-world experiences.
A small group of test users in the United States was granted access to Starbucks Odyssey, a platform where members can participate in events known as Tours. Starbucks has rebranded NFTs to Journey Stamps, as NFT is not a common phrase.
All of this is part of the Starbucks Rewards program, which has 60 million members worldwide – 29 million of them in the United States – and is estimated to account for more than half of the company’s sales. A big selling point for Starbucks is that Odyssey is an extension of Rewards rather than a discrete NFT-focused add-on.
There are prizes available that are more valuable than a free cup of coffee, and Odyssey will be the most public example of a food and beverage company’s foray into a Web3 loyalty program when it becomes open to everyone next year.
Starbucks CMO Brady Brewer commented at the launch:
Starbucks has always served as a third place, a place between home and work where you feel the warmth of coffee, community, and a sense of belonging. The Starbucks Odyssey experience will extend the third location’s connection to the digital world.
How does this operate? When Odyssey members swipe their existing Starbucks Rewards card, they get points. Upon accumulating 500 points, members earn stamps. There are three tiers of unlockable benefits/experiences, ranging from virtual experiences, such as a virtual lesson on producing coffee-based drinks, to real-world activities, such as those at the top. Member points are reset at the end of the year, but members retain their stamps.
The initial Journey stamps for Beta are all inspired by the history of Starbucks.
Journey Stamps have a point value based on their rarity and will be available for purchase or sale on the Odyssey Marketplace next year. In contrast to other NFT-type initiatives, users will not be required to possess a cryptocurrency wallet or any cryptocurrency to conduct transactions. You only need a credit card.
Brewer, the chief marketing officer, explained the logic for the new strategy.
Starbucks has a history of using emerging technology to innovate on behalf of its customers and make it easily accessible and accessible to the mainstream. Our innovative spirit and desire to continually exceed our customers’ expectations have led to the launch of Starbucks Odyssey.
“Starbucks Rewards members are some of our most loyal and engaged customers, and Starbucks Odyssey is our next big innovation in loyalty to recognize surprise, and delight them. We are leveraging Web3 technology to reward and connect with our members in new ways, such as collectibles, proprietary digital stamps, a new digital community, and access to new benefits and immersive coffee experiences – both physical and digital formatively.
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