Starbucks Drops ‘First Store’ NFT Collection

The company’s premium NFT collection, Siren, dropped in March

April 19, 2023 10:33 am

Grand Warszawski/Shutterstock modified by Blockworks

Starbucks is dropping its First Store Collection of NFTs on Wednesday at 3 pm ET. There are 5,000 up for grabs at $100 each, and they’re modeled after the original Starbucks storefront, which opened in 1971 in downtown Seattle.

The newest collection of “journey stamps” marks the seventh NFT drop by Starbucks. Like the previous collections, the First Store stamps will be minted on Polygon’s PoS sidechain, and will be sold on Gemini-owned Nifty Gateway.

Starbucks is also looking to integrate its existing rewards program and its NFT drops with Starbucks Odyssey — an unreleased Web3 rewards platform with a waitlist open for members. The plan is to allow users to earn points through ordering at Starbucks, which they can then redeem for exclusive digital collectibles.

There is no official timeline for Starbucks Odyssey, but Starbucks sent out an email to Odyssey beta users with the subject line, “We’re Getting Closer,” Decrypt reported. Blockworks independently confirmed that this email was sent to users.

Starbucks’ first foray into the NFT marketplace was in December when it listed a free Holiday Cheer Edition 1 NFT for early users, featuring the well-known red and white Christmas coffee cup. The highest active offer for one of those is now $901.

The coffeehouse giant dropped the Siren Collection — its first premium NFT — in March 2023, with a base price of $100. As the name suggests, each of the 2,000 collectibles has a unique rendering of a siren, a creature from Greek mythology that lures sailors to their doom with their hypnotizing songs. As of today, one of these NFTs will cost you an average of $690.

Updated April 10, 2023 at 4:09 pm ET: Blockworks independently confirmed the “We’re Getting Closer” email was sent to Odyssey beta users.

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