Starbucks Odyssey is now available for select Starbucks Rewards members and employees. Photo: Jeremy Moeller/Getty Images
Starbucks entered the world of NFTs with the beta launch of the web3-enabled extension of its loyalty program.
Driving the news: Despite the ongoing crypto winter, the coffee giant announced it rolled out Starbucks Odyssey Thursday to a “small group” of rewards members and employees who joined the waitlist.
Catch up quick: NFTs, or non-fungible tokens, are unique digital assets — often works of art, game characters or creative products — that are recorded on a blockchain, or digital ledger.
State of play: The value of most NFTs is closely tied to the overall crypto market, which has been in full retreat this year, Axios' Alex Fitzpatrick reports.
How it works: Select Starbucks Rewards members, who joined the waitlist that opened in September, got the first invites to sign up for the program Thursday.
Meanwhile, each digital collectible stamp will include a point value based on its rarity and ownership will be secured on the blockchain.
What's next: Limited-edition stamps will soon be available for purchase with a credit card for select participants through a marketplace within the Starbucks Odyssey web app experience.
What they’re saying: Brady Brewer, Starbucks executive vice president and chief marketing officer, said in a statement that Odyssey is the company’s “next big innovation in loyalty to recognize, surprise and delight” loyalty members.
Separately, the Starbucks for Life game is now open for all Starbucks Rewards members.
Details: The game is available for loyalty members through Jan. 1 and no purchase is necessary to play.
Zoom out: McDonald's also has a promotion where free food and a coveted McGold card are up for grabs now through Christmas.
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