{"id":616387,"date":"2023-03-10T08:49:07","date_gmt":"2023-03-10T14:49:07","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/10\/starbucks-sold-2000-nfts-in-20-minutes-coffee-not-included\/"},"modified":"2023-03-10T08:49:07","modified_gmt":"2023-03-10T14:49:07","slug":"starbucks-sold-2000-nfts-in-20-minutes-coffee-not-included","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/10\/starbucks-sold-2000-nfts-in-20-minutes-coffee-not-included\/","title":{"rendered":"Starbucks sold 2,000 NFTs in 20 minutes \u2014 coffee not included"},"content":{"rendered":"
\n

It\u2019s been more than a year since NFT sales peaked \u2014 and then collapsed \u2014 but that\u2019s not stopping enterprising multi-billion dollar corporations from trying to get in on the action.<\/p>\n

Starbucks launched its first paid collection of NFTs today, a group of 2,000 digital \u201cstamps,\u201d<\/a> each priced at $100. Starbucks calls its NFTs \u201cJourney Stamps,\u201d a less technical-sounding term that the uninitiated might use as a way to explain what they just spent money on. And people did buy them \u2014 CoinDesk reports<\/a> that the \u201cstamps\u201d sold out in under 20 minutes.<\/p>\n

The coffee company first launched its NFT and Web3 push in December, when it opened up a new membership program<\/a> called Starbucks Odyssey. An extension of the existing Starbucks rewards program that gives customers perks like free drink upgrades, Odyssey promises to deliver new benefits and \u201cimmersive coffee experiences that [customers] cannot get anywhere else\u201d as members complete games, quizzes, and make purchases. Rewards might include virtual classes, access to merchandise, or a trip to a Starbucks coffee farm at higher membership tiers. Free coffee, notably, isn\u2019t listed as a possible reward. Purchasing an NFT gives members additional \u201cpoints\u201d that they can use to level up their tier. <\/p>\n

Dozens of big brands have wrung the NFT towel dry over the past couple years. A non-exhaustive list: Taco Bell<\/a>, Nike<\/a>, Adidas<\/a>, Paramount<\/a>, GameStop<\/a>, a bunch of celebrities via a revamped LimeWire<\/a>, the NBA<\/a>, CNN<\/a>, and the list goes on. What\u2019s particularly odd about the Starbucks NFTs is that they\u2019re coming so late, though the most devout Starbucks and crypto fans did scoop them up. According to Nifty Gateway<\/a>, 1,164 people own an NFT from the new collection.<\/p>\n

As a casual Starbucks drinker, seeing a new membership program made me think of one thing: how my Starbucks \u201cstars\u201d are worth less now<\/a> under the updated rewards program that the company announced earlier this year. You could call it shrink-flation for the original<\/em> virtual coffee tokens. And when times are tough for rewards programs, I suppose selling off a slew of new digital tokens makes sense \u2014 especially when there are people who\u2019ll buy them.<\/p>\n<\/div>\n

Read More<\/a>
\n Mia Sato<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s been more than a year since NFT sales peaked \u2014 and then collapsed \u2014 but that\u2019s not stopping enterprising multi-billion dollar corporations from trying to get in on the action.Starbucks launched its first paid collection of NFTs today, a group of 2,000 digital \u201cstamps,\u201d each priced at $100. Starbucks calls its NFTs \u201cJourney Stamps,\u201d<\/p>\n","protected":false},"author":1,"featured_media":616388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1276,76,46],"tags":[],"class_list":{"0":"post-616387","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-minutes","8":"category-starbucks","9":"category-technology"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/616387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=616387"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/616387\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/616388"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=616387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=616387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=616387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}