Starbucks Ropes in Polygon to Launch Its NFT Rewards Program

Starbucks has tapped widespread scaling answer Polygon as its blockchain supplier for what the espresso big is asking a Web3 “odyssey.” The new initiative will permit Starbucks Rewards loyalty program members and Starbucks companions (workers) in the US to earn and buy digital collectible stamps in the type of non-fungible tokens (NFTs). The firm mentioned the membership program will unlock entry to “immersive coffee experiences: from unique merchandise and artist collaborations to invitations to exclusive events.”

“Leveraging Web3 technology will allow our members to access experiences and ownership that were 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,” a Starbucks blog post learn.

The Starbucks NFT launch is an extension of the Starbucks Rewards assortment program, and clients will use their login credentials to entry them. The conventional model of the loyalty program permits Starbucks clients to high it with a sure sum of money and pay for his or her drinks with entry to free drinks and free WiFi. This program was launched in 2008 and was overhauled in 2010 with the launch of the corporate’s cellular app.

Once logged in, members can interact in Starbucks Odyssey ‘journeys’ — a sequence of actions, reminiscent of taking part in interactive video games or taking over enjoyable challenges to deepen their information of espresso and Starbucks. Members shall be rewarded for finishing journeys with a digital collectible ‘journey stamp’ (NFT).

“Each digital collectable stamp will include a point value based on its rarity, and the stamps can be bought or sold among members within the marketplace, with ownership secured on a blockchain,” mentioned Starbucks.

Brady Brewer, CMO at Starbucks, told TechCrunch that the corporate has been planning this initiative for not less than six months. The firm has been quick at accepting technological innovation, significantly associated to cryptocurrency and digital belongings.

Brewer claims their funding in NFTs is a part of a technique to improve its enterprise mannequin and development its present loyalty program. In addition, the corporate govt emphasised the potential for Polygon NFTs to foster communities and provides them entry to unique merchandise.

However, the corporate will not promote the usage of blockchain know-how in its loyalty program.

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