Why Starbucks Partnered With Polygon For Their NFT Loyalty Program
Starbucks will work with the Ethereum second layer solution Polygon on their non-fungible token (NFT) loyalty program, called “Odyssey”. Announced over 5 months ago, the initiative coincides with the return of the company’s founder Howard Schultz as CEO and with in-house issues. Related Reading: Starbucks To Launch NFT By Late 2022, How This Will Help […]
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The world of technology is filled with major innovations and huge surprises. Starbucks, one of the world’s leading brands as far as coffee-on-the-go is concerned, has unveiled a new feature for their mobile application. Not only will customers be able to use the app for purchases in-store, but they will also receive a “daily briefing” by The New York Times. Starbucks customers who frequently use the “My Starbucks Rewards” loyalty program will gain access to The New York Times’ top news of the day, as well as a selection of other articles. Due to an expanding relationship between Starbucks....
On September 12, the multinational chain of coffeehouses, Starbucks, announced the firm has partnered with the blockchain project Polygon and unveiled the company’s Web3 technology called Starbucks Odyssey. The Web3 platform Starbucks Odyssey will provide Starbucks rewards members and the company’s U.S. employees with the opportunity to earn non-fungible token (NFT) assets. Coffeehouse Company Announces Web3 Platform Starbucks Odyssey Starbucks has immersed its feet into blockchain, Web3, and NFT technology by revealing a new Web3 application powered by Polygon. “[The]....
It is not the first time there is a connection between Starbucks and digital currency, as users of the Fold App have been able to pay their coffee with Bitcoin for quite some time now. But the major brand is trying to take things one step further, as there is a plan to issue Starbucks digital currency. The so-called Starbucks Rewards “stars’ could become the new official digital currency of this brand in the future, which would be linked to a prepaid debit card. Making Use Of The Starbucks Rewards Stars. Similar to most brands and store chains around the world, Starbucks is rewarding loyal....
Branded stablecoins will revolutionize reward points in the same way nonfungible tokens are revolutionizing ownership. The adoption of nonfungible tokens has served as a practical entry point for users joining the crypto economy, driven primarily by their respective fandoms and the benefit-centric nature of the tokens. For instance, if you're a Lebron James superfan, you can understand why “The Block” from the 2016 NBA finals is valuable on NBA Top Shot without understanding the blockchain. But when it comes to brands, stablecoins are likely to become the biggest entry point.Reimagining....
“This will create an entirely new set of digital network effects that will attract new customers and be accretive to existing customers in our core retail stores,” said interim CEO Howard Schultz. Global coffee store franchise giant Starbucks is looking to launch a new Web3 rewards program to attract and retain customers, according to its interim CEO Howard Schultz.Speaking during the firm’s fiscal Q3 earnings call on Tuesday, Schultz noted that Starbucks will soon reveal a new Web3 “digital initiative” that will expand upon the company’s loyalty program:“This new digital Web 3-enabled....