• Starbucks Odyssey launched its first NFT drop, the ‘Siren Collection’.
• Members could buy two Stamps at $100 each, with payment by credit card or MetaMask wallet.
• Despite issues with site access, the collection sold out in 18 minutes and Stamps have gone up in price to over $550 on the secondary market.
Starbucks Odyssey Launches its First NFT Drop
Starbucks Odyssey, the coffee company’s Web3 loyalty program, today released its first limited edition non-fungible tokens (NFT), which it calls “Stamps.” The program, still in invitation-only beta, allows members to complete activities such as quizzes and in-store purchase to earn Stamps, which can be collected or resold on Nifty Gateway.
The Siren Collection
The 2,000-item “Siren Collection” features a version of the company’s iconic Siren, with the stamps priced at $100. Members of Starbucks Odyssey were able to buy two stamps each starting at 12 p.m. ET, and could pay by credit card or by connecting their MetaMask wallet.
Issues Upon Launch
Upon launch, members of the Starbucks Odyssey Discord group complained of problems accessing the site and error messages, with the site seemingly overwhelmed by traffic.
Sold Out Within 18 Minutes
Despite the issues, the collection sold out in 18 minutes and secondary sales quickly soared. As of this update, the floor price for a Siren Stamp has already passed $550.
NFT Stamps that members have unlocked from completing Journeys are also available for sale on secondary markets like OpenSea and Rarible but will not be part of this limited edition drop. With more drops planned for 2021 and beyond it will be interesting to see how far this new Web3 rewards system takes off!