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Starbucks Taps Ethereum Scaling Network Polygon for NFT Rewards

Starbucks Taps Ethereum Scaling Network Polygon for NFT Rewards

The coffee giant plans to both give out and sell digital stamps that can unlock perks like exclusive merch, private events, and trips.

In brief

  • Coffee chain Starbucks will launch an NFT platform using Polygon, an Ethereum scaling network.
  • The Starbucks Odyssey program will give away NFT stamps to customers and employees, but also sell limited edition NFTs.

Would you like an NFT with your latte? Starbucks today announced that it plans to offer its customers NFT rewards through Polygon, an Ethereum scaling network. The NFTs will unlock access to things like merchandise and events.

The Starbucks Odyssey program, which will launch later this year, will let both customers and employees in the United States earn digital stamps as rewards, as well as purchase and trade limited edition digital stamps. Each stamp will be minted as an NFT, or a blockchain token that represents ownership for things like digital collectibles and artwork.

The initiative is billed as an extension of the existing Starbucks Rewards program, and will let customers earn “journey stamp” NFTs by completing challenges and playing interactive games through the coffee chain’s app.

Meanwhile, the limited edition NFT stamps will be sold by the company and can be purchased with credit cards—cryptocurrency won’t be required to “claim an ownership stake in their loyalty to Starbucks,” as the company describes it. A Starbucks Odyssey web app will then feature a secondary marketplace to let stamp owners buy and sell them as they please.

There will be incentives for users to collect these stamps, as the NFTs will boost a user’s level in the Odyssey app and lead to potential rewards—from virtual drink-mixing classes to exclusive merchandise, access to private events, or a trip to Starbucks’ Costa Rican coffee farm. A portion of proceeds from NFT sales will support undisclosed causes, the company said.

This article was originally published on decrypt.co

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