Starbucks Closes Odyssey NFT Reward Program
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Starbucks is closing its non-fungible Token (NFT) rewards Beta program, Odyssey.
The program will officially close on March 31, the end of this current month. It was designed to give loyal customers and Web3 enthusiasts the opportunity to purchase NFTs in order to earn real rewards.
Starbucks has updated their website. FAQ sectionOn the Odyssey website, provide details about the decision. Fans of the program will have until March 25 to complete their “Journeys,” while the Starbucks Discord channel will close on March 19.
The Odyssey marketplace will be replaced by the Nifty Marketplace, where fans and NFT Stamp holders can continue to trade.
Although Starbucks did not disclose specific details regarding the shutdown, the company mentioned that the program “must come to an end to prepare for what comes next as we continue to evolve the program.”
Despite the closure of the Odyssey program, Starbucks hinted at the possibility of future endeavors in the Web3 space, stating, “We are thankful to have had this opportunity to test into these different ways of driving community and loyalty at Starbucks and we look forward to bringing these learnings to a broader audience.”
Starbucks first You can also read about the advantages of usingOdyssey NFT loyalty program to launch in 2022 Beta versionIn December of the same year. The program gained traction with its inaugural NFT collection, “The Siren Collection,” which sold out within 20 minutes in March 2023. Subsequent NFT drops paid homage to Starbucks’ history and top-selling products, such as the Pumpkin Spice Latte.
While the program was initially successful in terms of engagement, there may have been some difficulties during market downturns. The NFT industry faced many challenges in 2023. These included legal uncertainty and decreased traction. This led to the closures of numerous projects. Several high-profile projects, including GameStop’s marketplaceYou can also find out more about the following: X (Twitter)’s NFTFeatures have been discontinued.
The signs of a market recovery appeared only at the end of 2023. By 2024, the trends were more optimistic. Ethereum’s NFT marketThe sales of Solana and Bitcoin NFTs have seen a notable increase.
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