Starbucks Releases NFTs on Polygon and Achieves High Prices

    Starbucks is venturing into the Web3 realm with its latest Polygon NFTs.
    These digital assets are already selling for thousands of dollars.

    Starbucks Odyssey is a rewards program that uses NFTs on Polygon, an Ethereum scaling network. Although still in closed Beta, early adopters are already selling these NFT stamps for approximately $2,000.

    Starbucks Odyssey NFTs Holiday Cheer Edition 1 Stamp, which is the first of its kind, is highly sought after by consumers. Around 5,000 of these digital assets were initially given away for free to Starbucks Odyssey members who purchased a Christmas gift card.

    However, they are now selling for thousands on Nifty Gateway and continue to increase in price. Rarity plays a significant role in the stamps’ desirability, and Starbucks only allows a limited number of users from its waitlist on its platform following the Beta stage. Hence, those lucky enough to access the platform buy multiple stamps for investment purposes.

    Although only 360 stamps have been sold, the high cost of the assets means the coffee chain has made a whopping $143k in total volume sales.

    The NFTs open up the Starbucks Odyssey platform, where users can earn points by participating in online trivia games and redeeming their points for stamps. Those with the most points can earn rewards, including access to private events, merchandise, and more.

    Starbucks has released three similar NFTs, but they are currently in low demand and are selling for around $69 to $285.

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