Recently, the global coffee giant, Starbucks, caused a frenzy among its customers by launching its first collection of limited edition non-fungible tokens (NFTs), called “Siren Collection”.
Sold out in just 18 minutes, the 2,000 exclusive digital stamps, which were initially sold for US$100 each, are now being sold for more than US$500 by those who managed to acquire them.
The Siren Collection features five expressions related to the Starbucks mascot’s journey. Each NFT comes with 1,500 bonus points, which can be used to advance in levels on Starbucks Odyssey, the Web3 platform launched in December by the company.
This platform represents an extension of the Starbucks rewards program and offers members exclusive benefits and experiences.
Since its launch in December, Starbucks Odyssey has provided customers with immersive coffee experiences through games, quizzes and purchases.
Rewards range from virtual classes and access to merchandise to trips to Starbucks coffee farms at higher levels of the platform. Purchasing a Siren Collection NFT grants members additional points, helping them level up and unlock new rewards.
While Siren Collection NFTs sold out quickly, fans of the brand still have the opportunity to register and join a waiting line to participate in the next NFT sale.
Starbucks is yet another of the big brands to choose Polygon as a network for launching blockchain applications.
Also opting for the network was Meta, the parent company of Instagram, which chose Polygon as its initial partner for its NFT tools, launched last year and ended this year.
Meanwhile, banking giant JPMorgan also used Polygon to conduct its first live trade (worth around $71,000) on a public blockchain, marking a concrete step towards the integration of cryptocurrencies into traditional financial structures.