Starbucks (SBUX) is set to begin a non-fungible token (NFT)-based loyalty program with the blockchain technology provided by Polygon.
The company's Starbucks Odyssey will allow customers to purchase digital collectible stamps in NFT form that offer benefits and immersive experiences.
The program is to be built on Polygon's Proof-of-Stake (PoS) network, a scaling tool that sits on top of the Ethereum network. Applications that run on Polygon and other scalers can avoid some of the high costs and low transaction speeds caused by congestion on the Ethereum mainnet.
Starbucks hinted at developing a Web3 experience in May of this year when it announced plans to launch a series of NFT collections providing “unique experiences, community building and customer engagement."
Customers are invited join the waitlist to receive access to Starbucks Odyssey starting from today.
Steve Kaczynski, head of community at Starbucks, has said that the NFT market may drop significantly from its historical highs, so in the hope of attracting fans in new ways, brands and loyalty programs can still exert their value.
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