The largest coffee chain Starbucks has announced the launch of its second paid NFT collection, dubbed The Starbucks First Store Collection, on the Polygon blockchain. The NFTs were put up for sale on the Nifty Gateway NFT marketplace as of April 19.
- The 5,000-item collection depicts the elements from Starbucks' first-ever store opened in 1971 in Seattle's Pike Place Market.
- Each NFT costs $100, and every user can purchase only one NFT from the collection.
- The
popular coffee house released its first paid NFTs, dubbed Siren
Collection, featuring a version of the brand's famous Siren logo, in
March.
- Each NFT in the collection was similarly put up for sale for $100, and the 2,000-item series sold out within 20 minutes.
- Siren-themed NFTs have since gained around 400% in value, reaching a floor price of $495.
- Starbucks first announced its foray into Web3 in May 2022 in its earnings call, hinting at the brand-themed NFTs that would give access to exclusive experiences.
- In
September last year, the company also introduced Odyssey in partnership
with Polygon and Nifty Gateway as part of its loyalty rewards program.
- The beta testing
of Odyssey launched last December with several interactive experiences,
including games, virtual tours related to the brand's history, virtual
coffee education, Odyssey Points that can be exchanged for rewards, and
free Journey Stamp NFTs that can be traded.
