Starbucks' Dumb NFT Program Explained
If you've ever left Starbucks with an infant-sized latte and thought, "This coffee needs some Silicon Valley innovation," good news. The brand that once tried to cash in on the dying
CD industry is now trying to create digital communities filled with "immersive coffee experiences." Starbucks Odyssey combines the company's rewards system with a blockchain-based NFT platform.
Tuesday's jackpot is the fourth-largest ever. It's $810 million, up from $790 million. Most jackpot winners prefer $470.1 million in cash over an annuity.Taxes would take a significant chunk of that.
Starbucks rewards members can redeem stars for a free coffee or similar item. Odyssey flips the rewards pitch. Now Starbucks addicts can earn and buy digital collectibles.
"Starbucks has always been the Third Location, a place between home and work where you sense community and belonging," said Starbucks EVP and CMO Brady Brewer
Immersive coffee experiences Starbucks Odyssey members may play "journeys" NFT. Some trips include coffee and Starbucks.
By integrating into the Starbucks Rewards network and focusing on coffee, connection, and community, we're approaching the Web3 sector differently than any other brand, added Brewer.