Starbucks Odyssey NFTs Sell Out in Just 18 Minutes

The NFTs already have a secondary market volume of over $120,000.

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By Madeline Garfinkle •

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

Entrepreneur Staff

Editorial Assistant

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

Related Topics

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