Starbucks has announced the end of its NFT program, the Odyssey Beta program. They stated that the program “must come to an end to prepare for what comes next as we continue to evolve the program.”
The program will close on March 31, 2024. Users have until March 25, 2024, to complete any remaining Journeys.
The company’s nonfungible tokens, called Stamps, will remain accessible on Nifty Gateway, a curated NFT platform. However, the Odyssey marketplace will transition to the Nifty marketplace, allowing Stamps to be transferred to external wallets and traded on other marketplaces, similar to other NFTs.
Starbucks Odyssey also shut down its Discord server on March 19. The company acknowledged the community’s role, stating, “As we look to evolve the program, we will be keeping the community in mind, and we are working to have a place for members to connect in the future.”
While expressing excitement for what’s to come, Starbucks thanked the community for their feedback during the Odyssey Beta program. They’re grateful for the chance to test new ways of building loyalty and community, and they’re excited to share what they’ve learned with more people.
What may be a logical step on the part of Starbucks to terminate the NFT initiative is likely explained by the fact that the Company was not able to sell the Starbucks First Store Collection, priced at $100 per token, launched in April 2023.
With the end of the Odyssey Beta program, Starbucks is now embarking on an entirely new phase, making use of the insights from its NFT technology to change its strategy for creating and keeping commercial partnerships.
