Starbucks recently released its first paid NFT Siren Collection, with a mint price of $100 and a total of 2,000 pieces. These digital collectibles went on sale at 4 am today and sold out in just 18 minutes. Many collectors and investors rushed to buy these NFTs, causing the price to skyrocket, reaching a peak of $600.
- Free Stamps
Starbucks offers a digital stamp card system as part of its loyalty program. Customers can receive a stamp with each purchase and earn a free drink or food item after accumulating a certain number of stamps. This system is a way for Starbucks to reward loyal customers and encourage repeat purchases.
Since the launch of Starbucks Odyssey in December last year, four Journeys and corresponding stamps (NFTs) have been released, generating a secondary market trading volume of $218k. These four stamps were all obtained for free by completing tasks and using points, meaning the initial holders were able to participate and earn during the holiday season.
80% of the trading volume is contributed by the Holiday Cheer Edition 1 Stamp, which currently has a floor price of $1499 and has reached a high of $2000.
The utility of this stamp is currently unknown, and the high price may be due to the deep-rooted association of the holiday season itself, with a different theme every year, giving it a certain commemorative value.
The corresponding limited-time task, Holiday Cheer, ended on January 2, 2023.
- Paid Stamps
Starbucks has also experimented with paid stamps, allowing customers to purchase additional stamps to earn rewards faster.
When Starbucks launched the Odyssey beta in December, they hinted at limited edition paid stamps. Two months later, they sent out the first teaser email, followed by sneak peeks every few days, maintaining a good rhythm.
The Siren Collection released today is based on the artwork of their mermaid (Siren) logo. Purchasing it will earn you 1500 points.
Official interpretation: Each stamp features a Starbucks mermaid you've never seen before, as well as various artworks from our past fifty years. Each design depicts our love for coffee through legends, myths, and adventures, creating beautiful and layered artworks that are all unique.
- Podcasts and Events
Starbucks has a podcast called "Upstanders," which showcases stories of people making positive changes in their communities. The company also hosts various events such as coffee tastings and concerts to increase customer awareness of the Starbucks brand and connect with local communities.
In addition to Odyssey, Starbucks has done something interesting by partnering with the podcast curation platform Hark Audio to launch "The Starbucks Daily" podcast (embedded in the Starbucks app). Through 2-6 minutes of curated audio content every day, they enhance the user's coffee-drinking experience.
Furthermore, the CMO mentioned that special events will be provided for members, such as the opening ceremony of the new Empire Tower.
- Lifestyle Brand
Starbucks is not just a coffee chain; it has become a lifestyle brand. The brand has launched many coffee-related products such as coffee machines, cups, and beans. Additionally, the company sells Starbucks-branded clothing, water bottles, and other merchandise to attract a wider audience.
By creating a range of content, including Odyssey, Starbucks Daily, and events, Starbucks continues to increase opportunities for interaction with its members.
The interaction between members and Starbucks doesn't end after buying coffee. They can listen to podcasts, earn NFTs in Odyssey, and participate in events in the evening. These scenarios allow for the expansion of more categories and enhance its commercial space, upgrading it to a lifestyle brand.
- Rumors
In addition to the mentioned facts, there are also rumors and speculations circulating on the internet. For example, some speculate that Starbucks will launch cryptocurrency or NFTs, but there is currently no official confirmation or announcement. These rumors may affect stock prices or market performance, but they should be treated with caution and await official news.
During the earnings conference call, CEO Howard Schultz mentioned that the company has discovered a persistent and transformative new category and platform that is unlike anything they have experienced before. He then revealed a word: Alchemy.
Furthermore, more and more executives from major companies are entering Web3.
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Former President of Samsung Electronics, Young Sohn, serves as an advisor to the decentralized KYC Astra Protocol.
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Former Apple Marketing Director and founder of Electronic Arts (EA), Trip Hawkins, joined Web3 game development company Games for a Living as Chief Strategy Officer.