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TL;DR
Starbucks’ ‘Odyssey’ loyalty rewards app is already proving its Web3 built-in mannequin to the skin world.
Solely challenge is: as of proper now, solely a small handful of loyal prospects have been allowed into this system. However that is likely to be about to alter…
Starbucks despatched an e-mail to Odyssey beta testers on Monday, with the topic line, “We’re Getting Nearer,” suggesting an upcoming public rollout.
Seems Starbucks prospects love to gather. In truth, there’s already an honest market constructed round buying and selling collectible Starbucks cups!
If/when the corporate proves this ‘digital collectible’ mannequin at scale, others will need to comply with – quick.
Full Story
Want extra of these candy candy tales of Web3 success, to get you thru the tail finish of this bear market?
Say no extra.
We have pointed to Starbucks’ profitable entry into Web3 a number of instances. The corporate’s ‘Odyssey’ loyalty rewards app is already proving its Web3 built-in mannequin to the skin world.
(Mainly: you purchase espresso from Starbucks → you earn NFTs on the app).
The primary ‘woah, that is loopy’ story that we have lined prior to now is the truth that somebody offered their ‘Vacation Cheer’ collectible for $2k.
(Wild!)
Solely challenge is: as of proper now, solely a small handful of loyal prospects have been allowed into this system.
However that is likely to be about to alter…
Starbucks despatched an e-mail to Odyssey beta testers on Monday, with the topic line, “We’re Getting Nearer,” suggesting an upcoming public rollout.
And should you’re listening to about this for the primary time, questioning to your self: ‘Are Starbucks prospects actually going to be taken with digital collectibles??’
We had the very same thought (at the very least, initially).
Seems Starbucks prospects love to gather. In truth, there’s already an honest market constructed round buying and selling collectible Starbucks cups!
And that enthusiasm has translated into the digital realm, with the corporate reporting “unprecedented demand” for the Odyssey app.
Now, contemplating that:
Starbucks already has 50M customers on their current cellular order app.
It launched an NFT assortment in March, separate to the Odyssey app collectibles, that offered out at $100 a chunk (now averaging $690).
Our spidey-senses are telling us that they will have the ability to generate sufficient demand to carry new customers into the Odyssey program, at scale.
The ensuing flywheel?
The extra customers there are incomes NFTs → the extra NFTs might be traded → the extra NFTs are traded → the extra royalties Starbucks will earn.
All for one thing that price them $0 to make – and required an in-store buy to gather.
(Which means it is a worthwhile endeavor, from day one – no matter royalties).
If/when that is confirmed at scale, others will need to comply with – quick.
We like to see it!
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