Starbucks sold 2000 NFTs worth 100 in just 20 minutes

Starbucks sold 2,000 NFTs worth $100 in just 20 minutes

Last Thursday, the American company Starbucks, which owns a coffee house chain, issued two thousand non-fungible tokens (NFT) of $100 each as part of the Starbucks Odyssey loyalty program, which sold out in just 20 minutes.

    Image source: Starbucks

Image source: Starbucks

The activity of potential buyers was so high that the product’s website collapsed for a while. Soon after, it was reported that users were bragging about their purchases on social media.

Starbucks Odyssey, a new NFT-based loyalty program launched last December, is an extension of the Starbucks Rewards loyalty program that uses web3 technology and allows users to earn digital assets that can be spent on exclusive services.

Starbucks refers to its NFTs as Journey Stamps. Program members can earn “stamps” by taking quizzes and ordering milk replacer coffee. For some time it has also been possible to buy them. Earning an NFT gives program members additional “points” that they can use to level up and earn rewards, including virtual classes, merchandise purchases, or a trip to a Starbucks coffee farm at higher membership levels. In particular, free coffee is not listed as a possible reward.


About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

Add Comment

Click here to post a comment