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Home LATEST NEWS Starbucks started a waiting list to buy NFTs in its Web3 experience:...

Starbucks started a waiting list to buy NFTs in its Web3 experience: Quartz

Starbucks, what is trying to revitalize customer experience at its nearly 34,000 physical locations, it’s also about to enter ethereal world of blockchain technology.

The coffee chain is doing it Starbucks Rewards App a part of the entrance door to your The Starbucks Odyssey Program. Customers will be able to use their Rewards app login credentials to access the new Odyssey platform and purchase limited edition Starbucks Non-Fungible Tokens (NFTs) that will earn them points, which in turn will give them access to various events, immersive digital experiences and merchandise.

The company also plans to offer “travel stamps” to be earned by completing interactive game tasks. It is the type of marketing that can attract Starbucks cup collectors who already have the habit of exploring the brand’s stores around the world in search of new products.

Web3 is part of Starbucks plan to boost its business

the odyssey show is part of a “reinvention” plan announced by outgoing CEO Howard Schultz in July. The effectiveness of the NFT project will be the first test for incoming CEO Laxman Narasimhan when he takes office in October.

Despite a solid recovery from pandemic lockdowns in 2021, Starbucks shares has dropped 20% in the past year, in part because of concerns about customer reactions to the chain price increase and the ongoing turmoil related to his interactions with newly unionized workers at more than 200 stores.

This is one of the first of what will likely be many NFT-based loyalty programs.

We have discussed before the idea of ​​using blockchain technology to gamify customer loyalty programs. It’s a potentially efficient route to future customer retention. But ease of use will be important.

The coffee chain seems to recognize this. Starbucks Odyssey will allow users to purchase NFTs with their credit cards, instead of going through the sometimes onerous process, especially for blockchain newbies, of setting up a crypto wallet.

the waiting list to join Starbucks Odyssey opened this week. But the process that will allow customers to “own” NFTs without securing them in a crypto wallet has yet to be detailed.

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