Starbucks Rewards app will be part of the coffee chain’s gateway to its Starbucks Odyssey program. Starbucks customers can use their rewards login credentials to access the Odyssey platform and buy limited edition Starbucks tokens, which will earn them points and provide various perks.
The company is also providing “journey stamps” which one receives when completing interactive games. These may be appealing to people who are already collectors of Starbucks cups, they go around the world looking for new merchandise.
Web3 – Starbucks plan to Jumpstart its Business
The Odyssey program is an initiative from Starbucks to make the corporation less reliant on wholesale fees. In 2021, when a new pandemic caused widespread lock-downs, Starbucks’ stock dropped. They calmed customers and traders alike with a price increase and despite ongoing concerns, the NFT project will be the first test of incoming CEO Laxman Narasimhan as he takes over in October.
Starbucks First NFT- Based Loyalty Programs
We argued before that blockchain should be used for customer loyalty programs in the future to improve customer retention. It is the best way to do this, and usability will be important.
Starbucks is finally making it easier to buy NFTs by accepting credit cards and enabling customers to avoid the hassle of setting up a cryptocurrency wallet.
Starbucks Odyssey has a waitlist that opens this week, but the way in which customers will own their NFTs without holding them in a crypto wallet still has not been released.