• Starbucks launched their first set of limited edition NFTs, the Siren Collection.
• The 2,000 NFTs sold out in 18 minutes with the floor price skyrocketing to $445.
• This is an important milestone for Web3 adoption since Starbucks has over 31,000 stores and serves 60 million people weekly.
Starbucks Releases First Set of NFTs
Starbucks Odyssey released its first set of limited edition NFTs on March 9, 2023. The coffee giant sold out all 2,000 NFTs within 18 minutes of launch. This collection featured 2,000 NFTs featuring the company’s iconic Siren for $100 apiece and had a floor price of $445 according to Nifty Gateway.
Competitors Beat Starbucks to the Race
Adidas, Gamestop and Taco Bell have already entered the race to offer NFTs before Starbucks did. The holiday cheer journey free collection offered by Starbucks was worth over $1,500 in secondary sales generating more than $170,000 in trading volume.
Web3 Adoption Propels With Starbucks‘ Numbers
With 31,000 stores spanning the globe and serving 60 million people weekly it is not hard to see how this could propel Web3 into mainstream adoption. This move by Starbuck marks an important milestone for Web3 technology as more companies enter into this space.
Paid Collectibles From Loyalty Program
The loyalty program from Odyssey previously offered free NFT called Stamps upon completion of activities such as quizzes and in-store purchases which could be collected and sold on nifty gateway after completion. Now members can buy a maximum of two stamps using credit cards or MetaMask wallets using the paid collectible method on March 9th 2023.
Technical Issues During Launch
Due to heavy traffic during launch there were some technical issues causing a slowdown however these didn’t stop users from getting their hands on these limited edition collectibles quickly as they sold out faster than you could order your morning coffee!