In December, Starbucks made its foray into the realm of web3 with the introduction of Starbucks Odyssey, an NFT-powered enhancement to their flourishing loyalty initiative. Although the program has presently only given out complimentary airdrops, Starbucks has just revealed their debut premium NFT sale scheduled to go live on March 9.
This exclusive collection is called The Siren Collection Stamp, and is accompanied by a distinct artwork, representing a facet of the company’s “past, present, and future.”
- Price per NFT is $100
- 2000 Supply
- Only beta testers are eligible to mint
- 2 NFTs limit/wallet
The launch marks a significant step for the coffee giant as it signals their intent to deepen their involvement in web3. Starbucks has chosen to approach the NFT space differently by prioritizing user experience and avoiding conventional NFT playbooks, as evidenced by their controlled and deliberate rollout strategy and refreshing app interface. This approach sets a notable precedent for other major brands entering the NFT space, particularly given Starbucks’ massive user base of over 29 million loyalty members, potentially exposing a vast number of people to NFTs for the first time.
While Starbucks has previously awarded free NFTs as rewards, the Siren Collection Stamp will be their first direct NFT sale, serving as a proof-of-concept for other major brands eyeing the NFT space. This collection will also be the smallest Starbucks collection to date, implying significant scarcity that could impact secondary market prices later on. Only time will tell if this move will lead to greater adoption or if it’s just a passing fad, but it’s undoubtedly a positive development for the NFT space and a testament to the technology’s potential to reach mainstream audiences.