Starbucks has announced it is going to launch its official NFT Rewards loyalty program tagged “Starbucks Odyssey” on Ethereum’s (ETH) layer2 Polygon (MATIC) community later this 12 months.
In line with the announcement, the brand new loyalty program combines its present rewards program and a non-fungible token platform the place customers can earn and purchase NFTs that give them entry to unique rewards.
Whereas constructed on the blockchain, Starbucks makes the reward system so simple as doable by obscuring the underlying know-how.
The Starbucks Odyssey contributors can log into this system with their loyalty program particulars. They will have interaction in interactive actions referred to as journeys and earn NFTs referred to as Journey stamps.
Additionally, the espresso chain revealed that customers may purchase these NFTs with debit and bank cards.
The agency didn’t present data on the variety of NFTs within the assortment or the worth of every NFT.
Starbucks’ NFT plan has been within the works for some time
The corporate has been engaged on its foray into web3 for a while. In its Q2 earnings name, Chief Advertising and marketing Officer Brady Brewer mentioned:
“Rising applied sciences related to web3, and particularly NFTs, now allow this aspiration and permit us to increase who Starbucks has at all times been at our core.”
The agency added that its NFT group could be on an environmentally sustainable platform which might probably be chain agnostic or multichain.
Polygon helps web2 firms pivot to web3
A number of web2 firms seeking to pivot into the web3 have more and more chosen Polygon community as their companion of selection,
This 12 months alone, Coca-Cola, Adidas, Prada, Bulgari, DraftKings, Liverpool Soccer Membership, and a number of other others have launched NFT collections on the layer-2 community.
Expertise firms like Adobe and Meta have additionally built-in assist for Polygon in a technique or one other. Polygon is likely one of the networks supported for NFTs on Instagram and Fb, and Adobe built-in the community into its portfolio app, Behance.
Functions working on Polygon bypass the excessive transaction charges and scalability points battling the Ethereum mainnet.
Polygon’s MATIC rose 3.5% to $0.9 within the final 24 hours.
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