to Starbucks announced The company plans to launch an official NFT Rewards loyalty program tagged “Starbucks Odyssey” on Ethereum’s (ETH) Layer 2 Polygon (MATIC) network later this year.
According to the announcement, the new loyalty program will combine the existing rewards program with a non-fungible token platform where users can earn and buy NFTs that give them access to exclusive rewards.
Starbucks keeps its reward system as simple as possible by hiding the underlying technology, even though it’s built on blockchain.
Starbucks Odyssey participants can log into the program using their loyalty program details. You can participate in interactive activities called Journeys and earn his NFTs called Journey Stamps.
The coffee chain also revealed that users can purchase these NFTs with debit and credit cards.
The company did not provide information on the number of NFTs in its collection or the price of each NFT.
Starbucks NFT plans have been underway for some time
The company has been working on its foray into web3 for some time. On the second quarter earnings call, Chief Marketing Officer Brady Brewer said:
“New technologies related to web3, especially NFTs, make this aspiration possible and allow Starbucks to extend what has always been our core.”
The company added that its NFT community is on an environmentally sustainable platform that is likely to be chain-agnostic or multi-chain.
Polygon is helping web2 companies migrate to web3
Several web2 companies looking to pivot to web3 are increasingly choosing Polygon Networks as their partner.
This year alone, Coca-Cola, Adidas, Prada, Bvlgari, DraftKings, Liverpool Football Club, etc. launch NFT collection on Layer 2 network.
Technology companies such as Adobe and Meta have also integrated support for Polygon in some form. Polygon is one of his NFT-backed networks on Instagram and Facebook, and Adobe has integrated that network into its portfolio app Behance.
Applications running on Polygon avoid the high transaction fees and scalability issues that battle the Ethereum mainnet.
Polygon’s MATIC is up 3.5% to $0.9 over the last 24 hours.
