- Starbucks discontinues its Odyssey NFT loyalty program, which was previously in beta.
- The program aimed to enhance customer experiences by combining rewards with NFTs.
- Starbucks seeks to reevaluate its web3 strategy and focus on new initiatives.
Starbucks has announced the discontinuation of its Starbucks Odyssey NFT program, which was previously in beta.
According to an FAQ page, the company is “preparing for what comes next as we continue to evolve the program.”
Starbucks halts beta NFT loyalty program
The Starbucks Odyssey program, led by Steve Kaczynski, combined the company’s Starbucks Reward loyalty program with NFTs to enhance customer experiences.
Kaczynski, the co-author of “The Everything Token,” had previously shared his insights on the potential for community-based brand building through web3 technologies in an interview with TechCrunch’s Chain Reaction podcast.
Exploring new avenues
While the NFT space has seen a significant decline from its all-time highs, Kaczynski believed that brands and loyalty programs could still find value in reaching fans through innovative approaches.
He highlighted the ability of “brand anchors,” such as reward programs, to provide gated experiences and foster community engagement.
Starbucks’ decision to discontinue the Odyssey program comes as the company seeks to reevaluate its web3 strategy and focus on new initiatives that align with its evolving priorities.
The program’s future remains uncertain, as Kaczynski’s position at the company is currently unclear.
