March 13, 2023

Starbucks Earned $200K in Less 20 Mins from Selling 2,000 NFTs

Starbucks Earned $200K in Less 20 Mins from Selling 2,000 NFTs Featured Image

Starbucks

American coffee giant Starbucks earned a total of $200,000 in less than 20 minutes after selling its first collection of limited edition NFTs, which consisted of 2,000 digital “Stamps,” as each one is priced at $100. 

The company’s Web3 loyalty program, Starbucks Odyssey, debuted its limited edition “Siren Collection” days ago. The collection consisted of 2,000 NFTs, called Stamps, with a price of $100 for each one. The NFTs were inspired by the brand’s iconic logo. 

It is worth mentioning that the Siren Collection is only available for Starbucks Odyssey members, as each member is allowed to collect two Stamps after completing activities like quizzes and in-store purchases to earn Stamps which can be collected or resold on Nifty Gateway.

Members of the Starbucks Odyssey on Discord group complained about problems that hindered them from access to the site and error messages because of the traffic on the site, however, the collection was completely sold out in 18 minutes, and the prices of the secondary sales went up with a floor price recording $520 for a Siren Stamp. 

In its description, the collection said: “This collection — inspired by five of our most memorable Siren expressions and drawing on our deep coffee stamp archives — consists of 2,000 unique pieces tracing her journey from local Seattle celebrity to revered global icon.”

Starbucks launched its Odyssey program on the Polygon blockchain in December 2022. The Odyssey program is considered the next-generation loyalty platform that aims to build a brand relationship between customers and Starbucks.

Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.