Starbucks is discontinuing Odyssey, the company’s Web3 loyalty program that allowed members to obtain non-fungible tokens (NFTs) as collectibles. On Friday, the corporation revised its FAQ to inform members that the pilot initiative will terminate on March 31, and they have slightly over a week to finalize any outstanding tasks (referred to as journeys), which will cease on March 25. Subscribers will retain their Stamps (NFTs issued by Starbucks), which are stored on Nifty Gateway. However, to gain access to them, they need to register at Nifty with their Starbucks Rewards email, if they have not done so already.
Starbucks entered the NFT domain via Odyssey relatively late since it started its beta platform in the latter part of 2022, long after the height of digital collectibles interest. However, in contrast to other NFT initiatives from leading brands, it appeared to strive for more than just an easy profit. It incorporated a gaming aspect into the reward system, offering activities and coffee-themed mini-games to maintain member engagement.
Steve Kaczynski, the leading figure of the Odyssey community, highlighted the communal aspect in a discussion with TechCrunch just a month ago. He mentioned people forming strong bonds within the Odyssey community, despite geographical distances. This, he asserted, would never have been possible if not for Web3. But as of 2024, both businesses and consumers have moved away from NFTs. Even Forum3, which partnered with Starbucks to develop Odyssey, appears to have switched its focus to artificial intelligence.
Starbucks has stated that the Odyssey marketplace, a platform where members could trade their stamps, will be relocated to the Nifty marketplace. Members will also have the option to transfer their Stamps for trading on other platforms.
