Starbucks Discontinues Its NFT Program 'Odyssey'

Jace Dela Cruz, Tech Times 16 March 2024, 07:03 am

Starbucks has decided to discontinue its NFT program "Odyssey," which was in beta testing phase, to prepare for future developments in the program's evolution.

Starbucks Discontinues Odyssey NFT

According to the FAQs provided by Starbucks on the discontinuation of the program, it is stated that the Starbucks Odyssey Beta program will be ending to make way for what lies ahead as they continue to develop the program further.

The program's closure is scheduled for March 31, and users have until March 25 to complete any remaining activities or "journeys" within the program.

Starbucks Shares Drop 7 Percent After Q4 Earnings And 2022 Forecast Is Released — MARIN CITY, CALIFORNIA - OCTOBER 29: The Starbucks logo is display on the exterior of a Starbucks store on October 29, 2021 in San Francisco, California. Starbucks shares fell 7 percent a day after the coffee chain reported fourth quarter earnings that fell short of analyst expectations. The company also announced plans to raise barista pay by summer of 2022.
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Participants in the program will not have another Benefit Selection Period, as their points will expire once the program is closed. However, Starbucks will email a final benefit to Odyssey members who are Level 1 and higher at the end of March.

Regarding Stamps' fate after Odyssey's shutdown, it is clarified that Stamps will remain accessible on Nifty Gateway. Users who have not previously logged into Nifty Gateway can request a password reset using their Starbucks Rewards email.

The Odyssey marketplace will transition to the Nifty marketplace, where users can continue to buy, sell, and transfer Odyssey stamps.

Members can also withdraw their Stamps to an external wallet and trade them on other platforms. Additionally, the Starbucks Odyssey Discord server will remain open until March 19, after which it will be closed.

However, Starbucks assures its members that they are considering the community's needs as they evolve the program and are working towards providing a place for members to connect in the future.

All About Starbucks Odyssey

Powered by Web3 technology, Starbucks Odyssey offered Starbucks Rewards members in the US the chance to earn and purchase digital collectible Stamps (NFTs), unlocking access to new benefits, rewards, and interactive experiences.

The program involved members engaging in "journeys," a series of activities like playing interactive games or taking on challenges related to coffee and Starbucks. Completing these journeys rewarded members with a journey stamp, and periodic limited-edition stamps were also available for purchase within the Starbucks Odyssey web app experience.

Journeys consisted of themed activities that earned points and, upon completion, unlocked collectible "journey stamps," along with bonus points. Members were encouraged to complete all activities within a journey to unlock a stamp and earn bonus points. Starbucks had plans to introduce new journeys throughout the year.

Starbucks Rewards members could still earn Stars by making purchases at participating stores and simultaneously collect points in Starbucks Odyssey for completing purchase activities.

According to the company, duplicate journey stamps did not add bonus points to the total, and limited-edition Stamps were collectible NFTs minted by Starbucks, available for purchase and sale in the market.