Starbucks established Starbucks Odyssey, a complete loyalty programme, for its reward members and partners. According to Starbucks, the Web3-powered loyalty programme would give members and partners the chance to gather and purchase digital assets. These digital assets, often referred to as NFTs, will increase access to immersive coffee experiences and other advantages.
Starbucks is among the first businesses to combine non-fungible tokens (NFTs) with a loyalty programme that leads the industry and is developing a digital community that will foster new forms of interaction between the business and its partners and customers.
The international coffee shop company made a suggestion that it was planning to create a Web3 experience earlier this year, in May. The release of a number of NFT collections that will offer distinctive experiences, customer interactions, and community development was also announced around this time.
For Starbucks Odyssey, there is a waiting list.
How will that function?
The increase in stamp collecting, according to Cointelegraph, would directly affect members’ points. Members will then have access to special experiences. According to Starbucks, rewards for customers will include everything from access to one-of-a-kind products to invitations to exclusive events. Additionally, a select group of customers will get the opportunity to tour the Costa Rican coffee farm of Starbucks, Hacienda Alsacia.
The Starbucks Odyssey app, scheduled to debut at the tail end of 2022, will also let users accumulate NFTs through games or entertaining tasks involving coffee.
Why was Polygon’s proof-of-stake network chosen to power the loyalty programme?
The proof-of-stake network from Polygon, which serves as the primary consensus mechanism for adding new blocks and processing transactions on the blockchain, will serve as the foundation for the loyalty programme.
We anticipate seeing an increasing number of blockchain apps switch from proof-of-work to proof-of-stake as the Ethereum merge approaches. The proof-of-work concept’s expensive costs and slow transaction speeds are the main reasons behind the switch to proof-of-stake.
