Starbucks Shuts Down NFT Loyalty Program Odyssey by March 2024
Starbucks has announced the closure of its NFT loyalty program, Starbucks Odyssey, by the end of March 2024. The program, launched in 2022, was initially well-received by the crypto community. However, the company has decided to focus on future developments, leading to the program's shutdown.
Starbucks launched two additional versions of the NFT loyalty program in 2023. The final collection, 'Green Apron', was released in July. Despite the expansion, the program's future has been uncertain. Steve Kaczynski, the community lead for Starbucks Odyssey, has lost his job following the program's closure.
Polygon, the blockchain platform that hosted Starbucks' crypto projects, has shifted its strategy. Instead of relying on flashy deal announcements, it is now focusing on building innovative technology. Starbucks chose Polygon over competitors Ethereum and Flow for the partnership, with Polygon paying the restaurant chain $4 million to host its projects.
The closure of Starbucks Odyssey marks the end of the company's initial foray into the NFT and blockchain space. While the program's future is uncertain, Starbucks' exploration of the technology has provided valuable insights. The company's focus on future developments suggests that it may continue to explore the potential of blockchain and NFTs in other ways.
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