Starbucks Odyssey, the Web3-based loyalty program of Starbucks, has released its first limited edition NFT “Stamps” after several months of anticipation. The “Siren Collection,” which features the coffee company’s iconic Siren, consisted of 2,000 pieces and sold out in less than 20 minutes despite participants experiencing issues accessing the website due to high traffic. Only invited individuals can participate in the Starbucks Odyssey program’s beta phase. These individuals can earn Stamps by completing quizzes and making in-store purchases, which can then be collected and resold on Nifty Gateway.
1/6 Starbucks dropped free NFTs and now they're worth $1500 USD 🧵 pic.twitter.com/i4ARJThGAj
— Guidenzo Fawkes (@guidenzofawkes) February 25, 2023
The Siren Collection was sold at $100 per stamp, and participants were allowed to purchase up to two stamps during the sale period using either a credit card or their MetaMask wallet. The collection was sold out in 18 minutes, and secondary sales skyrocketed, with the floor price of a Siren Stamp above $550 as of press time. Stamps that had been unlocked by members by completing various tasks have also hit the Nifty Gateway secondary market, with the floor price of “Holiday Cheer Edition 1 Stamp” reaching $1390 and over $170,000 in trading volume. The Starbucks Odyssey program was launched on the Polygon blockchain in December 2022, and it aims to be an easy-to-access next-generation loyalty platform even for non-crypto natives who can tap into Web3 by purchasing NFTs using a credit card.