Starbucks terminates Odyssey NFT initiative pledges to
Starbucks has decided to close down its Odyssey Beta program, signaling a significant departure from blockchain rewards in the near future. The Seattle-based company communicated the sunset of Odyssey through email and an update on its FAQ page. “The Starbucks Odyssey Beta must come to an end to prepare for what comes next as we continue to evolve the program,” the company stated. The program initially generated widespread attention when it integrated blockchain technology with customer loyalty initiatives upon its launch in late 2022. Officially, the program will end on March 31. Members of the program have until March 25 to complete any outstanding activities and “journeys,” which is a reward program that allows members to earn, buy, and trade non-fungible tokens (NFTs) stamps. The first NFT collection, made up of 2,000 “Journey Stamps,” sold out within the first 20 minutes of hitting the market. Details regarding how many jobs will now be cut are unclear. In a heartfelt statement, the program’s community lead expressed the personal impact of this decision, reflecting on the vibrant community built around Starbucks and the Odyssey program. Going by the handle @NFTbark, they expressed a mixture of gratitude and sorrow, thankful for the experiences gained during their tenure with Starbucks. Despite the emotional attachment to Starbucks, @NFTbark shared an optimistic outlook on facing the uncertainty ahead while cherishing memories with the company. However, they made it clear that they would not be speaking on behalf of Starbucks or about the Starbucks Odyssey program further. Starbucks has pledged one final benefit to Odyssey members who have achieved Level 1 status or higher, to be communicated via email by the end of March. The fate of members’ accumulated points and Odyssey Stamps has been outlined. Points are set to expire with the program’s conclusion, with no additional benefit selection periods planned. However, Odyssey Stamps will remain accessible through Nifty Gateway, and the Odyssey marketplace will transition to the Nifty marketplace, allowing for continued buying, selling, and transferring of stamps. Stamps can be withdrawn to an external wallet for trading on other platforms. The dedicated Discord server for the Odyssey community will shut down on March 19, though the coffee retailer is exploring new ways to maintain community engagement. Starbucks isn’t the only major corporation to pull the plug on its NFT programs. In October 2022, The Vault by CNN NFT marketplace project ended, as the media outlet ceased selling digital collectibles. And in March 2023, Meta announced that it was “winding down” its work with NFTs on both Facebook and Instagram.
