Starbucks Odyssey NFTs Sell Out in Just 18 Minutes The NFTs already have a secondary market volume of over $120,000.

By Madeline Garfinkle

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Starbucks Odyssey, the chain's Web3 loyalty program, released its first collection of 2,000 limited-edition NFTs called "Stamps" on Thursday. While still in beta, the Odyssey program is invitation-only and prompts members to complete activities, quizzes, and in-store purchases in order to earn Stamps.

The "Siren Collection" of NFTs opened at 12 EST on Thursday and members were allowed to purchase two Stamps — all priced at $100. Upon its launch, the site experienced errors as it was overwhelmed by the traffic and the 2000-Stamp collection sold out in just 18 minutes, Coindesk reported.

Related: Should Your Business Launch an NFT? Here Are 4 Things You Need to Know.

The limited-edition Stamps have already been listed on the Nifty Gateway secondary market, with one selling for over $1,500. As of Friday morning, the average sale price is $442. According to the Nifty Gateway platform, the Stamps currently have a total secondary market volume of $121,795.

Starbucks launched its Odyssey program partnering with Forum3 with the intention to create an experience catered to non-crypto users, emphasizing that Stamps could only be purchased with a credit card. Andy Sack, co-founder and co-CEO of Forum3, told Coindesk that Odyssey is a "next-generation loyalty platform," and intends to build relationships between Starbucks customers and the brand.

Related: Starbucks Is Making Big Changes to Its Rewards Program Starting With 'Free' Drinks

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Related Topics

Growing a Business

The Owners of This Texas Farmers Market Took a Big Gamble. Here's How It Paid Off Bigger Than They Dreamed.

A Texas farmers market educates customers about the importance of shopping local for a healthy lifestyle and an even healthier small business community.

Social Media

How To Start a Youtube Channel: Step-by-Step Guide

YouTube can be a valuable way to grow your audience. If you're ready to create content, read more about starting a business YouTube Channel.

Business News

A Billion Dollar Startup Is Trying To Resurrect A Woolly Mammoth — And You Can Watch It Happen

Filmmakers will go behind the scenes of billion-dollar startup Colossal Biosciences, which uses genetic engineering for de-extinction projects.

Business News

A 29-Year-Old CEO Quit Microsoft To Build His Startup — And Just Scored A Deal on Shark Tank

Aabesh De tapped into a niche need during the pandemic and founded Flora, a houseplant care startup.

Business News

Woman Allegedly Fired for 'Theft' After Eating a Sandwich That Was Leftover From a Meeting

Gabriela Rodriguez worked as a cleaner at Devonshires Solicitors in London for two years.