March 22, 2023

Starbucks Launches First Paid NFT Collectible on Ethereum Sidechain Network

Coffee giant Starbucks is making a big move into the world of Web3 with its Starbucks Odyssey rewards program on Ethereum sidechain network Polygon. The program is currently in beta and available to a limited number of users. As part of its efforts to promote the program, Starbucks has already given away a few free reward NFTs to early adopters. Now, the company is set to launch its very first paid collectible.

The Starbucks Odyssey program will launch the limited edition Siren Collection today at 3 p.m. ET for beta users of the platform. The collection will offer up 2,000 NFTs that will be sold for $100 apiece. Each unique piece of artwork is inspired by the brand’s iconic logo—a “super mermaid,” as the company once described it.

“As Starbucks has grown over the years, the Siren has been right there with us, adapting and evolving to reflect the brand and the culture,” the company said of the NFT drop. The 2,000 pieces will collectively be based on five different Siren “expressions” that represent the brand’s values of community, connection, and sustainability.

The move into NFTs is a significant one for Starbucks, as it marks the company’s first foray into the world of blockchain technology. The company has been exploring the potential of blockchain for some time, and the Starbucks Odyssey program is just one of the ways it is looking to leverage the technology to enhance its customer experience.

The Starbucks Odyssey program is built on the Ethereum sidechain network Polygon, which is designed to offer faster and cheaper transactions than the main Ethereum network. This makes it an ideal platform for Starbucks to experiment with NFTs and other blockchain-based applications.

The launch of the Siren Collection is just the beginning for Starbucks in the world of NFTs. The company has already hinted at future drops and collaborations with artists and creators in the space. With its massive global reach and loyal customer base, Starbucks has the potential to become a major player in the NFT market.

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