Coffeehouse Chain to Release NFT Stamps as Starbucks uses Polygon for Web3 Push
September 12, 2022 11:41 PM
Coffee shop giant Starbucks revealed its Web3 technology, dubbed "Starbucks Odyssey," and its partnership with blockchain startup Polygon on September 12. Starbucks rewards members and U.S.-based employees will be able to accrue non-fungible token (NFT) assets through the Web3 platform, Starbucks Odyssey.
By unveiling a new Web3 application run by Polygon, Starbucks has dipped its toes into the waters of blockchain, Web3, and NFT technology. According to the company's corporate stories and news page, "[t]he new Starbucks Odyssey experience will offer members the ability to earn and buy digital collectible stamps (NFTs) that will unlock access to new, immersive coffee experiences."
According to the company's official blog post, "Starbucks will create an accessible Web3 community that will enable new ways to interact with members and customers (employees) as one of the first businesses to incorporate NFTs with an industry-leading loyalty scheme at scale."
Polygon's Twitter and a blog post titled "Starbucks Taps Polygon for Its 'Starbucks Odyssey' Web3 Experience" both confirmed the partnership as well. Polygon writes in their announcement post:
"Polygon's PoS network's low fees and fast transaction speeds make it ideal for this type of loyalty program."
"Later this year," according to Starbucks, is when you can expect to be able to try out their new Odyssey experience.
You can now join the waitlist to be one of the few invited to the Starbucks Odyssey experience. The company promises a live rollout of the platform "later this year." Starbucks' v.p. of loyalty, strategy, and marketing, Ryan Butz, thinks the tech fits in well with the chain's efforts to reduce its environmental impact.
In a statement released on Monday, Butz emphasized the importance of using technology that "aligns with our sustainability aspirations and commitments" in the construction of Starbucks Odyssey. Polygon's quick, cheap, and carbon-neutral network is the perfect basis for our first digital community, as mentioned by the VP of loyalty rewards.