• Starbucks Odyssey, an invitation-only rewards program, released its first limited edition NFTs called Stamps.
• Members were able to buy up to two stamps each at a price of $100.
• Despite technical issues, the collection sold out in 18 minutes and secondary sales have already passed $550.
Starbucks Odyssey Program Releases First NFT Drop
Starbucks Odyssey, the company’s Web3 loyalty program, has released its first limited edition non-fungible tokens (NFT), referred to as Stamps. The 2,000-item “Siren Collection” features a version of the brand’s iconic Siren and was available for members to purchase up to two stamps each starting at 12 p.m. ET for a price of $100 via credit card or MetaMask wallet connectivity.
Technical Problems During Launch
Despite the launch of the collection, members of Starbucks Odyssey Discord group complained of problems accessing the site and error messages due to what seemed like an overwhelmed website from traffic.
Collection Sells Out Quickly
Despite these technical difficulties, the collection still managed to sell out within 18 minutes with secondary sales quickly soaring past $550 as of this update.
What Is An NFT?
Non-Fungible Tokens (NFTs) are unique digital assets that can be used for various applications across multiple industries such as gaming and art platforms among others. They differ from cryptocurrencies in that they are not interchangeable but rather represent something unique—a piece of art or a collectible item—and can be bought, sold or traded on blockchain marketplaces such as Nifty Gateway.
The launch of Starbucks Odyssey’s Siren Collection showcases how quickly these digital collectibles can gain value in just a short period of time while also highlighting some areas where improvements may need to be made regarding technical issues during launches like this one.