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Starbucks has made a groundbreaking entrance into the NFT market with its free Odyssey rewards program, and it has already become an enormous success. The program, which uses NFTs to incentivize customers, has made history, with its limited-edition Polygon NFTs now selling for almost $2,000 each on secondary marketplace.
Since its launch in December 2022, the Starbucks Odyssey NFT-driven rewards program has seen tremendous demand for its NFTs, which are highly sought-after assets for collectors. The NFTs have seen over 360 sales on the Nifty Gateway marketplace, with a total volume traded that has exceeded $148,000. The most popular NFT, the “Holiday Cheer Edition 1 Stamp,” has accounted for 80% of the total Starbucks NFT volume traded so far.
The limited edition stamp was given away for free to Odyssey members who completed challenges and purchased a holiday gift card. The NFT features a red and green Starbucks cup with a pine tree pattern and the year 2022 displayed to the right hand side. Originally listed for free, the digital collectible is now being sold for almost $2000 on Nifty Gateway with 537 owners and with over $100k transaction volume in the last 30 days.
You faded the FREE Starbucks NFT
Now the floor is at $2000 pic.twitter.com/j1lYlHEof2
— Bark❓ (@barkmeta) February 17, 2023
Starbucks Odyssey rewards program: Real Usage of NFTs in Business
The Starbucks Odyssey rewards program is built on Polygon, a layer 2 Ethereum scaling solution that offers faster and cheaper transactions. The program uses NFTs to incentivize users to engage with Starbucks and purchase its products. Users can collect and trade these NFTs on the secondary marketplace, making them valuable assets for collectors and enthusiasts.
The success of Starbucks Odyssey and its NFT-driven rewards program highlights the potential of NFTs to revolutionize how businesses engage with their customers. NFTs provide a unique way for companies to reward and incentivize their customers while creating a new revenue stream. NFTs can also help companies build a community around their brand and engage with their customers more meaningfully.
As the NFT market grows, more companies are likely to explore the potential of NFTs and how they can enhance the customer experience. Starbucks Odyssey rewards program has set the benchmark for the effective use of NFTs in business, and we can expect to see more companies following in their footsteps in the future.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
NFT and Web3 Ambassador. Bullish on all things Blockchain.
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