Starbucks Odyssey NFT’s Promote Out in Minutes, Reselling For Hundreds

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Starbucks Odyssey, the chain’s Web3 loyalty program, launched its first assortment of two,000 limited-edition NFTs known as “Stamps” on Thursday. Whereas nonetheless in beta, the Odyssey program is invitation-only and prompts members to finish actions, quizzes, and in-store purchases with the intention to earn Stamps.

The “Siren Assortment” of NFTs opened at 12 EST on Thursday and members had been allowed to buy two Stamps — all priced at $100. Upon its launch, the positioning skilled errors because it was overwhelmed by the site visitors and the 2000-Stamp assortment offered out in simply 18 minutes, Coindesk reported.

Associated: Ought to Your Enterprise Launch an NFT? Right here Are 4 Issues You Must Know.

The limited-edition Stamps have already been listed on the Nifty Gateway secondary market, with one promoting for over $1,500. As of Friday morning, the typical sale worth is $442. In line with the Nifty Gateway platform, the Stamps at present have a complete secondary market quantity of $121,795.

Starbucks launched its Odyssey program partnering with Forum3 with the intention to create an expertise catered to non-crypto customers, emphasizing that Stamps might solely be bought with a bank card. Andy Sack, co-founder and co-CEO of Forum3, instructed Coindesk that Odyssey is a “next-generation loyalty platform,” and intends to construct relationships between Starbucks prospects and the model.

Associated: Starbucks Is Making Large Adjustments to Its Rewards Program Beginning With ‘Free’ Drinks

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