Customers and partners are now being invited to join a waitlist for "Starbucks Odyssey," which is scheduled to launch later this year.
Listen to the CoinMarketRecap podcast on Apple Podcasts, Spotify and Google Podcasts
Starbucks has revealed plans to integrate non-fungible tokens into its loyalty program.
The coffee chain says loyal customers and employees will be given the chance to earn and buy digital collectibles that unlock access to "new benefits and immersive experiences."
Customers and partners are now being invited to join a waitlist for "Starbucks Odyssey," which is scheduled to launch later this year.
Brady Brewer — who has an amazingly appropriate name considering he is the executive vice president of Starbucks — said:
"Leveraging Web3 technology will allow our members to access experiences and ownership that was not possible before. Starbucks Odyssey will transcend the foundational benefits that our Starbucks Rewards members have come to love, and unlock digital, physical and experiential benefits that are uniquely Starbucks."
Ultimately, the company's vision "is to create a place where our digital community can come together over coffee, engage in immersive experiences, and celebrate the heritage and future of Starbucks."
Odyssey is set to complement the existing Starbucks Rewards program — and can be accessed through current login credentials.
"Journeys" will unlock access to interactive games and "fun challenges" where customers can learn more about coffee.
Limited-edition NFT stamps can also be acquired without the use of a crypto wallet — and digital assets are not required to make a purchase.
Rarer collectibles will command a higher number of points, and they can be bought and sold on a bespoke marketplace. Detailing some of the exclusive perks on offer, Starbucks explained:
"These experiences could range from a virtual espresso martini-making class, to access to unique merchandise and artist collaborations, to invitations to exclusive events at Starbucks Reserve Roasteries or even trips to Starbucks Hacienda Alsacia coffee farm in Costa Rica."
A common criticism of NFTs centers on how some blockchains consume vast amounts of energy and have a large carbon footprint.
Starbucks says it is addressing these concerns by using the Polygon network, which uses a Proof-of-Stake consensus mechanism.
It'll be interesting to see whether the upcoming Merge will encourage other big brands to use Ethereum for their loyalty programs in the future.
