Seattle-based American beverage and roastery company Starbucks has released its non-fungible token (NFT) program dubbed Starbucks Odyessy which is powered by Web3.0 technology.
Starbucks rewards members and Starbucks partners (employees) in the United States are the main focus of Starbucks Odyessy.
They will be offered the “opportunity to earn and purchase digital collectible assets that will unlock access to new benefits and immersive coffee experiences.”
The company is looking to reduce its carbon emission, amount of waste, and also water footprint.
Therefore, Starbucks is seeking a thorough approach that will provide effective solutions to this problem. With that in mind, the Proof-of-stake (PoS) consensus mechanism which will also be utilized by the Merge, is the blockchain that Starbucks plans to utilize.
Particularly, the PoS built by Polygon consumes less energy and is able to perform transactions at a faster speed.
The congestion experienced on the Ethereum (ETH) mainnet which utilizes the Proof-of-work (PoW) will be avoided with the PoS. Notably, the company is one of the first companies to integrate non-fungible tokens (NFTs) with an industry-leading loyalty program.
Customers Join Starbucks Odyssey Waitlist
Eventually, with this NFT-based loyalty program that Starbuck is introducing, its customers will be able to buy and earn digital collectible stamps in the form of an NFT.
A waitlist has been created to that effect and starting from today September 12th. Users and partners can now join the waitlist to be amongst the first to access the experiences that Starbucks Odyssey will offer once it launches towards the end of the year.
Starbucks executive vice president and chief marketing officer, Brady Brewer talked about how the company provides an intermediary between home and work. He regarded the company as a ‘Third Place’ and according to him, Odyssey will extend this intermediary position to the digital world.
“Leveraging Web3 technology will allow our members to access experiences and ownership that was not possible before. Starbucks Odyssey will transcend the foundational benefits that our Starbucks Rewards members have come to love, and unlock digital, physical, and experiential benefits that are uniquely Starbucks,” He added.