I simply earned (and bought) a Starbucks NFT: The way it works, how a lot I made, and what I realized

After 11 days enjoying trivia challenges and mini-games, coming into a contest to win espresso for all times, pledging to unfold vacation cheer, taking a digital tour of a Costa Rican espresso farm, and frequently visiting my native espresso drive-through in actual life, I lastly earned a Starbucks digital stamp Monday afternoon.

With my first Starbucks Odyssey “journey” full, and Vacation Cheer Version 1 Stamp #4883 safe in my digital pockets, I gazed with pleasure on the graphical icon of a Starbucks vacation cup nestled among the many timber beneath two twinkling stars, with the candy satisfaction of digital accomplishment coursing by my veins.

Then I bought it.

The stamp went for $89 on the Nifty Gateway NFT market, netting me about $79 after charges — nearly sufficient to cowl the reward card and low that I’ve bought on a distinct Starbucks Odyssey journey.

The subsequent day, another person bought a Vacation Cheer stamp for $150.

Then one other went for $200.

Earlier at this time, the worth hit $250 in one other sale.

Clearly I ought to have held on longer!

If I can sustain my coffee-buying streak for an additional two weeks, I’ll full my subsequent journey to obtain the Starbucks Espresso Heritage stamp. I feel I’ll maintain that one.*

Starbucks Odyssey defined

At this level, you’re in all probability questioning, what the heck is that this man speaking about? All of this was new to me, too. So let’s take a step again.

Starbucks Odyssey is an extension of the Starbucks Rewards loyalty program. Introduced in September, Odyssey launched Dec. eight as a beta to a small group of Starbucks Rewards members who signed up for a waitlist. Starbucks says it’s going to begin making Odyssey accessible to extra individuals on the waitlist in January.

The initiative is a manner for Starbucks to enhance engagement with clients, within the long-term curiosity of its enterprise. Within the short-term, as I realized, it’s going to additionally trigger some clients to spend extra with Starbucks than they usually would.

For followers of Starbucks, it’s a strategy to really feel extra related to one among their favourite manufacturers, get particular perks, and doubtlessly make a bit cash within the course of.

Behind the scenes, that is the espresso large’s transfer into Web3, together with blockchain and NFTs (non-fungible tokens), distinctive digital identifiers for digital belongings.

Don’t fear: you don’t have to know something about NFTs to participate. Starbucks doesn’t even use the technical lingo. The corporate refers to its NFTs as stamps.

Blockchain, in the meantime, is what makes it attainable to establish and monitor particular stamps, permitting them to be bought and transferred to another person. The transactions are seen on a public ledger.

The primary focus of Starbucks Odyssey is a sequence of journeys, every involving a sequence of duties of various issue. There are two journeys to this point within the beta.

For instance, finishing the Vacation Cheer Journey requires:

1. Appropriately answering a sequence of Starbucks trivia questions (you may maintain making an attempt till you get all of them proper).
2. Matching Starbucks vacation cups with the 12 months they have been launched (similar goes on the do-overs).
3. Getting into the Starbucks for Life problem for an opportunity to win free espresso for all times.
4. Taking a “Kindness Pledge” to unfold vacation cheer in one among three particular methods: paying it ahead; sending a notice of appreciation; or giving an sudden praise.
5. Shopping for a Starbucks reward card (for any quantity) to disclose to another person.

With every accomplished activity, you are taking a further step within the journey, and add to your general factors whole.

There are three factors ranges within the beta (1000 to 2999 factors; 3000 to 5999 factors; and 6000+ factors) that may unlock future advantages. Starbucks has but to disclose the advantages however says examples could embrace digital courses, entry to restricted merchandise, and invites to unique occasions or journeys on the highest ranges.

It’s not but clear, nevertheless, if individuals will obtain free merch or just the privilege of paying for stuff that different individuals don’t have entry to purchase.

I used to be pleasantly shocked to see that I used to be in a position to maintain the 125 Starbucks Odyssey factors that I obtained for incomes the Vacation Cheer stamp even after promoting the NFT.

One barista I used to be chatting with at my native Starbucks likened Odyssey to “Pokémon GO for espresso.” It’s not an ideal comparability, however there are similarities in the way in which Odyssey blends and bridges the bodily and digital worlds.

That is particularly clear within the Espresso Heritage Journey. Along with a trivia problem, and an image puzzle that includes the unique Starbucks retailer, this journey consists of two duties that present the potential of Starbucks Odyssey.

1) Taking an interactive video tour of Hacienda Alsacia, the Starbucks espresso farm and international agronomy headquarters in Costa Rica.

• This tour is well-done, that includes vivid imagery and drone footage, and brief video clips during which an attractive tour information explains the ins and outs of rising, harvesting, and roasting espresso.
• Finishing this activity requires answering a multiple-choice query, the reply to which is revealed towards the top of the tour.

2) Buying a Starbucks signature beverage for 5 straight weeks.

• That is notable as a direct tie-in to the Starbucks enterprise. I’m an occasional Starbucks buyer, and this journey has turned me into an everyday one.
• The retail know-how integration can be spectacular. Regardless that the Starbucks Odyssey beta is a separate cellular net app, not built-in into the Starbucks Rewards app, my espresso buy has been logged accurately every time in Starbucks Odyssey, so long as I scan at checkout or pay with the Rewards app.

Simply two extra weeks to go!

NFTs as a advertising technique

That is the place the enterprise potential of NFTs begins to develop into clear.

Though the thrill and hype over the know-how has light, Starbucks determined to take its time to develop a extra strategic method, as Brady Brewer, Starbucks’ chief advertising officer, advised me in September.

“As many manufacturers simply jumped proper in, we noticed a longer-term potential for this know-how quite than a one-off,” Brewer stated on the time. “We have been considering, how can it increase not simply our buyer expertise however our core enterprise, quite than one thing that might be on the facet.”

Other than lacking the height of the NFT craze, Starbucks faces the danger that launching what quantities to an elaborate advertising recreation may appear frivolous as employees at a whole bunch of Starbucks places vote to unionize in their very own quest for higher working circumstances.

The corporate hopes that staff (“companions,” in Starbucks terminology) will assist to construct and take part within the Starbucks Odyssey group, and it’s prioritizing them within the beta waitlist.

Whereas staff who host on-line studying classes for Odyssey contributors, for instance, could be on the clock, their common participation within the Odyssey group could be “extra for enjoyable and engagement,” Brewer stated within the earlier interview.

For now, what’s lacking from the beta expertise is a way of group, together with the flexibility to work together and have interaction with different members. Starbucks says that’s coming.

Personally, I’d love to have the ability to speak with (and interview) “superman,” the Nifty Gateway consumer who bought my Vacation Cheer stamp earlier this week. I haven’t been ready to determine how to do that.

Within the meantime, the expertise has given me a greater sense for the attraction of NFTs. I want I’d held onto that Vacation Cheer stamp a bit longer, and never simply because the worth has gone up. Sure, I do know, it was simply a picture, pixels on a display. However in a bigger sense, it was an icon of my journey over the previous two weeks, every little thing I realized alongside the way in which, and the hassle that went into incomes it.

Search for me in line subsequent week on the native Starbucks in my quest for the following one.

* Starbucks offered me with entry to the Odyssey beta, based mostly on my request to strive it out for functions of scripting this first-hand account. I’m planning to provide away the proceeds from my sale of stamps as tricks to Starbucks baristas, until somebody has a greater concept for what to do with the cash. Let me know: todd@geekwire.com.