Starbucks Ends NFT Rewards Program Without Warning to Prepare for Next Phase of Initiatives

The globally renowned coffee chain giant Starbucks recently announced the conclusion of its rewards program that allowed customers to earn and purchase digital collectibles through non-fungible tokens (NFTs). This decision was made to make room for new innovative initiatives.

Starbucks' Brief NFT Adventure

Starbucks' "Odyssey Beta program" will officially conclude on March 31st, as stated on their FAQ page. The program allowed users to earn digital badges through coffee-themed games and challenges, which could be used to unlock new rewards and interactive experiences. With the program coming to an end, the market for trading these digital badges and the community's Discord server will also be closed. Starbucks revealed that the Odyssey market will transition to the Nifty market, where users can still buy, sell, and transfer Odyssey badges.

Reasons for Closure Remain Unclear

The exact reasons behind Starbucks ending the program are still unclear, and it is uncertain whether there will be other Web3 projects to take its place. However, the company mentioned the need to prepare for potential new developments in the future.

Choosing Polygon Network for Environmental Reasons

Amid challenges faced by the cryptocurrency industry, Starbucks launched this program in November 2022. The program opted for the lower energy-consuming Polygon network instead of the Proof-of-Work blockchain, reflecting a commitment to environmental sustainability.

Starbucks Odyssey Web3 project launched! Test platform is online, opening for the first batch of users to experience

Several Major Companies Ending NFT Applications

Meanwhile, game retailer GameStop announced the closure of its NFT marketplace in January this year, as part of a series of cutbacks to its crypto services over the past two years. Tech giant Meta also terminated its NFT features on Facebook and Instagram around this time last year, just 10 months after their initial integration.

As Starbucks' NFT reward program comes to an end, the industry's exploration of how to effectively integrate Web3 technology will continue.

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