Starbucks Odyssey, an extension of the Starbucks Rewards program to expand brand loyalty in the virtual world. It is reportedly seeing early signs of success, according to Bank of America.
Starbucks launched beta testing of Odyssey in December. It allows members to participate in educational games and virtual tours about coffee and Starbucks history and earn Odyssey Points that can be redeemed for rewards or Journey Stamp NFTs that can be kept or traded.
“Odyssey has the ability to develop superior loyalty,” the team of analysts led by Sara Senatore wrote in a Feb. 28 memo. virtual (besides buying drinks)
Starbucks’ approach to web3 is “more holistic than the industry’s previous NFT tide,” the analyst said.
Odyssey will also help bring new members to Starbucks Rewards, as well as engage current members, which is an important development.
Analysts noted that some Journey Stamps have sold for $1,900, with the total trading volume on the secondary market reaching $164,000.
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