April 18, 2023 at 15:10 GMTModified date: May 15, 2023 at 17:04 GMT
April 18, 2023 at 15:10 GMT

Starbucks Unveils Second NFT Collection on Polygon

Starbucks, the world’s largest coffeehouse chain, is brewing up its second NFT collection on the Polygon network.

Starbucks, the world’s largest coffeehouse chain, is brewing up its second NFT collection on the Polygon network.

The new “Starbucks First Store Collection” features art inspired by the company’s inaugural location, which opened in 1971 in Seattle’s Pike Place Market.

The Starbucks First Store Collection

The collection captures the essence of Starbucks’ historic first store, a landmark visited by people worldwide who seek a sense of nostalgia and connection to something greater. With the “Starbucks First Store Collection,” fans have the opportunity to own a piece of this history.

A total of 5,000 “The First Store Collection Stamps” will be available for sale on Wednesday, each priced at $100. Collectors who own two or more unique “Journey Stamps” from Starbucks’ previous NFT venture will receive early access to the First Store collection at 9 a.m. PDT. The general sale will commence at noon PDT, with a limit of one stamp per person for all collectors.

Starbucks’ Growing Web3 Presence

Starbucks first announced its entry into the Web3 space in May 2022, with plans to launch its own NFT collection later that year. The company aimed to provide users with access to exclusive content experiences and other benefits, creating a digital third place for the Starbucks community.

In September, Starbucks introduced Odyssey, an extension of Starbucks Rewards designed to bolster brand loyalty in the virtual realm. The coffee giant launched a beta test of Odyssey in December, allowing members to participate in interactive journeys such as games and virtual tours related to coffee education and Starbucks history. Members could earn Odyssey Points exchangeable for rewards or “Journey Stamp” NFTs, which could be collected and traded.

The Siren Collection Success

In February, Starbucks launched its first paid NFT collection, the “Siren Collection,” which sold out in under 20 minutes. The 2,000-item collection featured a version of the company’s iconic Siren logo, with each stamp priced at $100.

The current floor price for the Siren stamps is around $495, marking an impressive 400% gain. The floor prices of Starbucks’ Journey Stamps, initially offered for free as rewards, also trade higher in the range of $70 to $1,000 each.

As Starbucks continues to expand its presence in the NFT and Web3 space, the launch of “The Starbucks First Store Collection” on Polygon further solidifies the coffee giant’s commitment to offering unique experiences for its fans.

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