Coffee Giant Starbucks Announces Shutdown of NFT Rewards Program

Starbucks is shutting down its loyalty program that rewards participants with non-fungible tokens (NFTs) minted on the Polygon (MATIC) blockchain.

The worlds largest coffeehouse chain rolled out the Starbucks Odyssey program for beta testing in December 2022.

Members complete themed activities to earn NFTs called Journey Stamps and bonus points to access benefits and interactive experiences.

But after nearly two years, Starbucks revealed on Monday that it will discontinue the program.

The coffee giant says Odyssey will end on March 31st and members have until March 25th to complete their remaining Journeys.

The Starbucks Odyssey Beta must come to an end to prepare for what comes next as we continue to evolve the program.

Although Starbucks will discontinue the program, the stamps will remain accessible on the NFT marketplace Nifty Gateway. The digital collectibles are also tradable on other platforms.

The Odyssey marketplace will transition to the Nifty marketplace. You can continue to buy, sell, and transfer Odyssey stamps on the Nifty marketplace.

You can withdraw your Stamps to an external wallet and trade on other platforms.

Some collectors have shown interest in Starbucks’ NFTs. The Seattle-based firm’s Holiday Cheer Edition stamp that was released on December 16th, 2022 sold for an average price of $883.20. The 2,000 Siren Collection stamps priced at $100 each were also sold out in minutes when they were launched in March last year.

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Featured Image: Shutterstock/Emon373

This article was originally reported on The Daily Hodl.