Starbucks Odyssey, the coffee chain’s NFT-powered rewards program based on the Ethereum scaling network Polygon, is still in closed beta, but early users are already trading NFT stamps for about $2,000 each.
Since the beta version of Starbucks Odyssey came out in December, its stamp NFTs have been sold 360 times on the official secondary market of Nifty Gateway, for a total of over $143,000. This number is about what you would expect, since the corporation has only let out four NFT drops and only a small number of waitlist applicants have been accepted.
What is surprising, though, is that some Starbucks NFTs have a high floor price, which is the price of the least expensive listed asset. As of this writing, the current floor price on Nifty Gateway for a “Christmas Cheer Edition 1 Stamp” Polygon NFT is just over $2,000 This single NFT drop makes up 80% of all the NFTs Starbucks has traded on the market so far.
As the Polygon NFT Rewards Platform is rolled out, Starbucks has seen “unprecedented interest.”
The Holiday Cheer Edition 1 stamp was only made in 5,000 copies. It was supposed to be given away for free to Starbucks Odyssey members who did the required number of tasks and bought a holiday gift card. Now, though, it can be bought for as much as $1,900, and the lowest price is even higher.
The fact that it is Starbucks’s first NFT and that it came out on December 16 may make it more appealing. Others seem to be betting that the NFT will go up in value in the future and are selling them at a higher price. Some customers buy more than one of the same NFT, likely because they think they can sell them for a profit.
Starbucks’ three other NFT drops have floor prices that range from $69 to $285, which shows that they are not as popular.
Do people who own Starbucks NFTs get real-world benefits? Access to private events and trips to other countries have been promised, but neither has happened yet. Odyssey users can earn points that they can use to buy NFT stamps by doing things like taking online trivia challenges. Users can also earn points that can be used to unlock NFTs by buying drinks at Starbucks.
Starbucks plans to sell premium NFTs that are made in limited quantities in the future. At the moment, no one knows when Starbucks will let the public use the Odyssey platform.
Content Source: news.yahoo.com
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