Following months of build up, Starbucks Odyssey, the company’s Web3 loyalty program, has released its first limited edition NFT “Stamps.” The 2,000 piece “Siren Collection” was snapped up in less than 20 minutes, despite participants complaining of issues accessing the website due to high traffic.
The Starbucks Odyssey program is still in its beta phase, and only invited individuals can participate. These individuals can complete quizzes and make in-store purchases to earn Stamps that can be collected and resold on Nifty Gateway.
As for the Siren Collection, it features the coffee company’s iconic Siren, with individual stamps priced at $100. The lucky members of the loyalty program were allowed to buy up to two stamps during the sale period and pay using a credit card or by connecting their MetaMask wallet.
Starbucks Odyssey NFTs Sell Out In Minutes
The minting kicked off on March 9 at 12 p.m. ET, and the collection was sold out in 18 minutes. In addition, secondary sales soared with the floor price of a Siren Stamp above $550 as of press time. Interestingly, Stamps that had been unlocked by members by completing various tasks have already hit the Nifty Gateway secondary market, and they are not cheap. For instance, the floor price of “Holiday Cheer Edition 1 Stamp” has crossed $1390 with over $170,000 in trading volume as of press time.
One NFT artist by the name of Guidenzo Fawkes took to Twitter to comment on this frenzy, noting that Starbucks had dropped free NFTs and now they were selling for thousands of dollars.
1/6 Starbucks dropped free NFTs and now they’re worth $1500 USD 🧵 pic.twitter.com/i4ARJThGAj
— Guidenzo Fawkes (@guidenzofawkes) February 25, 2023
The Starbucks Odyssey program was launched last December on the Polygon blockchain. It’s dubbed the “next-generation loyalty platform,” which aims to be easy to access even for non-crypto natives who can tap into Web3 by purchasing NFTs using a credit card.
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Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.
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