Starbucks is placing an finish to its Odyssey Beta program, an NFT-related extension to its present rewards system.
The American multinational espresso chain wrote in an official weblog put up yesterday that the Starbucks Odyssey Beta program “should come to an finish to organize for what comes subsequent as we proceed to evolve this system.”
Starbucks Odyssey Beta will shut on March 31.
The corporate’s nonfungible tokens, known as Stamps, will stay accessible on Nifty Gateway, a curated NFT platform. Its Odyssey market will transition to the Nifty market, however Stamps will be — like different NFTs — transferred to exterior wallets and traded on different marketplaces.
Starbucks Odyssey can be shutting down its Discord server on March 19.
“As we glance to evolve this system, we can be preserving the neighborhood in thoughts, and we’re working to have a spot for members to attach sooner or later,” the corporate wrote.
“Whereas the Starbucks Odyssey Beta program is ending, we’re excited so that you can see what comes subsequent and are grateful on your constant engagement and suggestions,” it added. “We’re grateful to have had this chance to check into these other ways of driving neighborhood and loyalty at Starbucks and we stay up for bringing these learnings to a broader viewers.”
The espresso firm shuttering its NFT program could not come as a shock to some. It notably did not promote out its Starbucks First Retailer Assortment — which was offered, on the time, for $100 per token — in April 2023.
The information additionally comes at a time when NFT mints on Ethereum are trending to historic lows, in accordance with The Block’s knowledge.
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