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Which is all properly and good for holders – however 211k NFTs bought/gifted to a bunch of 42k members, all for $172.5k in royalty income (remodeled 7 months) for Starbucks??
That’s PEANUTS (lower than peanuts) for a $119B firm with a buyer base of 100M individuals.
So, how a lot room is there to develop right here?
There is no approach Starbucks goes to have the ability to get all 100M of its prospects to hitch the Odyssey program…however let’s fake it is potential and work our approach up from the place we’re at at this time.
Proper now, 0.042% of Starbucks prospects are Odyssey members.
This system has been operating for simply over half a yr and made $172.5k – so let’s name that $345k per yr.
Now, let’s have a look at what occurs as we begin to bump the member quantity up…
0.042% of buyer base = $345k p/y
1% of buyer base = $8.21M p/y
5% of buyer base = $41M p/y
10% of buyer base = $82.14M p/y
20% of buyer base = $164.28M p/y
40% of buyer base = $328.57M p/y
80% of buyer base = $657.14M p/y
100% of buyer base = $788.57M p/y
Is that this math right? Nope! It is approach off. It assumes that the buying and selling quantity, together with the availability and demand of/for these NFTs will scale easily.
It will not. It is wonky as hell.
BUT! It does offer you an concept of the advantages that NFT reward packages provide legacy manufacturers like Starbucks 👇
The Web2 technique = run a rewards program → promote extra espresso.
The Web3 technique = run an NFT rewards program → make recurring income from secondary NFT gross sales → promote extra espresso.
Niiiice!
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