Starbucks officially introduced Starbucks Odyssey, which it plans to launch later in the year. This will be the platform’s first foray into building with web3 technology.
The new experience will combine the firm’s Starbucks Rewards loyalty program with an NFT platform, permitting its users to earn and buy digital assets that unlock premium rewards and experiences.
Earlier, Starbucks teased its web3 venture to investors, disclosing that the new experience will build on the present Starbucks Rewards approach where users or customers earn “stars” that can be exchanged for some perks, such as free drinks.
The plan envisions Starbucks Odyssey as an opportunity for its loyal users to earn bigger rewards while building community.
To successfully create this, the company employed the service of Adam Brotman, the architect who developed its Mobile Order & Pay system and the Starbucks app, to work as the project’s special advisor.
Brady Brewer, the Starbucks CMO, said in an interview that though Starbucks has been investigating blockchain technology for the past few years, it has just been involved in this project for six months.
Brewer said that the platform is looking for a means to use the technology to improve its business and grow its existing loyalty program.
The company is also making NFTs the passes that permit access to the digital community. However, it’s obscuring the technology to underpin the experience to have more consumers to its web3 platform.
According to Brewer, “It happens to be built on blockchain and web3 technologies, but the customer, to be honest, may very well not even know that what they’re doing is interacting with blockchain technology. It’s just the enabler.”
Meanwhile, to participate in the Starbucks Odyssey experience, members will log in to the web app with their old loyalty program credentials.
In the app, they can engage with various journeys or activities, such as playing interactive games or involving in challenges to deepen their understanding of the Starbucks coffee or brand.
As the members complete the activities, they can take early digital collectibles in the form of NFTs that Starbucks Odyssey calls “journey stamps.”
Options to buy limited-edition NFTs.
In addition, several limited-edition NFTs will be present for members to buy in the app, which equally runs on mobile devices. This NFT can be bought with a debit or credit card, a Cryptocurrency wallet isn’t needed.
The firm believes this would be easier for users to participate in the web3 experience by reducing the entry barrier. And won’t complicate users’ transactions with issues like “gas fees,” as they provide a bundled price.
In the meantime, Starbucks isn’t yet prepared to share its NFT price or how many would be available at the launch, maintaining they haven’t made the decisions.
Also, the firm disclosed its web3 platform would open its waitlist and will be launched later in 2022. And that it will eliminate the waitlist and open its platform more broadly in 2023.