- Starbucks’ Odyssey lead believes NFTs can build loyalty by anchoring rewards programs.
- Odyssey’s NFT rewards system has over 58,000 active users, facilitating meetups and “tribe.”
- NFT ownership empowers users, moving loyalty beyond a one-way street, he argues.
Despite the recent NFT market downturn, Steve Kaczynski, community lead for Starbucks Odyssey, believes brands can still find value in NFTs for building brand loyalty. “Brand anchors” to gated areas like reward programs with NFTs will be a key trend in 2024, he predicts.
How Starbuck’s Odyssey started
Launched in 2022, Starbucks Odyssey integrated NFTs into its existing rewards program, creating a community-driven experience. “We’re able to help people find their tribe,” Kaczynski says, citing real-life meetups facilitated by the program.
This five-tier system already boasts over 58,000 active participants, demonstrating mainstream appeal.
Loyalty potential for NFTs
He emphasizes the potential of NFTs beyond expensive collectibles. “Imagine owning digital items with museum-grade proof of ownership,” he explains. This opens up avenues for third-party utilities like Hot Pockets offering discounts to gamers who own and connect their Fortnite skin NFTs.
NFTs, he says, move loyalty programs beyond a one-way street, giving users “true ownership” and the option to buy and sell.
Kaczynski believes “having that optionality is so important.” As brands explore this evolving space, NFTs, he argues, offer more than just hype, fostering community and empowering customers.
