Starbucks Polygon NFTs Given to Customers as Rewards Sell for Thousands

Free NFT stamps from Starbucks for nearly $2,000 apiece ahead of the platform’s public rollout.

Starbucks, the famous coffee chain, has entered the world of non-fungible tokens (NFTs) with its new rewards program, Starbucks Odyssey. The program is built on the Ethereum scaling network Polygon and is currently in closed beta. Despite this, the free NFT stamps that are part of the program are already selling for nearly $2,000 each, with a high floor price of some assets even reaching that amount.

Since the beta launch of Starbucks Odyssey in

December, its stamp NFTs have already seen a total of 360 sales on Nifty Gateway’s official secondary marketplace, resulting in over $143,000 in total volume traded. The limited number of users currently allowed into the program and the company’s release of only four NFT drops so far explains this relatively low number.

What is surprising is the high floor price of some of Starbucks’ NFTs, such as the “Holiday Cheer Edition 1 Stamp” Polygon NFT, whose current floor price on Nifty Gateway is just over

$2,000. This NFT drop alone makes up 80% of all of Starbucks’ total NFT volume traded on the marketplace thus far. Only 5,000 editions of this NFT were released, given away for free to Starbucks Odyssey members who completed enough challenges and bought a gift card as a holiday gift. However, people are now selling it for as much as $1,900, with an even higher floor price as of now.

The fact that this is Starbucks’ first-ever NFT, released on December 16, adds to its historical element, making it even more appealing to some collectors. Others seem to be speculating on the possibility of future increased value and are flipping them for a higher price, with some users buying multiples of the same NFT.

Although Starbucks has three other NFT drops, they are reportedly less in demand and thus have lower floor prices ranging from $69 to $285 at present. It remains to be seen if Starbucks NFT holders will receive any real-life benefits, such as access to private events and international trips, promised as part of the Odyssey program. Users can earn points by completing tasks such as online trivia challenges and redeeming them for NFT stamps while purchasing drinks at Starbucks can also grant points that can lead to unlocking NFTs.

In the future, Starbucks also plans to sell limited-edition premium NFTs. However, it is still unclear when Starbucks plans to open up the Odyssey platform to the public. Nevertheless, the success of the Starbucks NFT stamps is a testament to the growing popularity of NFTs as more companies and individuals explore the potential of this new digital asset class.

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