March 27, 2024
Starbucks Odyssey NFT Initiative Hits a Dead-End, Change Promised
NFT

Starbucks Odyssey NFT Initiative Hits a Dead-End, Change Promised

Starbucks is closing its Odyssey Beta program, marking a significant transition away from blockchain rewards for the foreseeable future. The Seattle-based company informed customers of Odyssey’s sunsetting through email and in an update on its FAQ page.

“The Starbucks Odyssey Beta must come to an end to prepare for what comes next as we continue to evolve the program,” the company stated.

The program garnered widespread attention for its integration of blockchain technology with customer loyalty initiatives when it first launched in late 2022. On March 31, it will officially end.

Deadline for Completing Activities and Earning NFTs

Members of the program have until March 25 to complete any outstanding activities and so-called “journeys” — a reward program of sorts where members could earn, buy, and trade non-fungible tokens (NFTs) stamps. The first NFT collection was made up of 2,000 “Journey Stamps” and sold out within the first 20 minutes of hitting the market.

Details regarding how many jobs will now be cut are unclear. In a heartfelt statement, the program’s community lead shared the personal impact of this decision, reflecting on the vibrant community built around Starbucks and the Odyssey program. Going by the handle @NFTbark, they expressed a mixture of gratitude and sorrow, thankful for the experiences gained during their tenure with Starbucks.

Uncertain Future for Odyssey Program

Despite the emotional attachment departing harder, @NFTbark shared an optimistic outlook on facing the uncertainty ahead while cherishing memories with Starbucks, like enjoying a cold brew and a birthday cake pop. However, they made it clear that they would not be speaking on behalf of Starbucks or about the Starbucks Odyssey program further.

Whether Starbucks lives up to its promise to “evolve” the program remains to be seen. The coffee retailer did pledge one final benefit to Odyssey members who have achieved Level 1 status or higher, which will be communicated via email by the end of March.

Fate of Points and NFT Stamps

Furthermore, the fate of members’ accumulated points and Odyssey Stamps has been outlined. Points are set to expire with the program’s conclusion, with no additional benefit selection periods planned. However, Odyssey Stamps will remain accessible through Nifty Gateway, and the Odyssey marketplace will transition to the Nifty marketplace, allowing for continued buying, selling, and transferring of stamps.

Stamps can be withdrawn to an external wallet for trading on other platforms. However, the dedicated Discord server for the Odyssey community will shut down on March 19, though the coffee retailer is exploring new ways to maintain community engagement.

Starbucks Not Alone in Ending NFT Programs

Starbucks isn’t the only major corporation to pull the plug on its NFT programs. In October 2022, The Vault by CNN NFT marketplace project ended, as the media outlet ceased selling digital collectables.

And in March 2023, Meta announced that it was “winding down” its work with NFTs on both Facebook and Instagram.

Image: Wallpapers.com

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