What does Starbucks' NFT loyalty program do that a rewards card doesn't

Starbucks has entered the NFT realm.

On Monday (12 September), Starbucks officially introduced Starbucks Odyssey, set to launch later this year — the coffee chain's first step into building with web3 technology.

The new experience combines the company's successful Starbucks Rewards NFT loyalty program with the blockchain technology provided by Polygon.

This would allow its customers to both earn and purchase digital assets that unlock exclusive experiences and rewards.

The company's program will allow customers to buy and earn digital collectible stamps in the form of an NFT that offers benefits and enticing experiences.

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These experiences can range from virtual espresso martini-making classes, to access to merchandise and artist collaborations, trips to Starbucks Hacienda Alsacia coffee farm in Costa Rica, and much more.

The program is built on Polygon's proof-of-stake network, according to CoinDesk. Proof-of-stake is a scaling tool that sits on top of the Ethereum network.

Applications that run on Polygon and similar scalers can avoid some hefty costs and low transaction speeds that are caused by congestion on Ethereum's main network.

In May, Starbucks hinted at developing a Web3 experience when it announced plans to launch a series of NFT collections that provide "unique experiences, community building, and customer engagement."

"By integrating into the Starbucks Rewards ecosystem and grounding the experience in coffee, connection, and community, we are entering the Web3 space differently than any other brand while deepening our members' connection to Starbucks," said Starbucks executive vice president and chief marketing officer Brady Brewer in a statement.

He continued: "Our vision is to create a place where our digital community can come together over coffee, engage in immersive experiences, and celebrate the heritage and future of Starbucks."

Customers can join a waitlist to get access to the Starbucks Odyssey world.

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