Bank of America (BoA) said the Odyssey program, Starbucks’ Web3 project, is showing early signs of success.
Starbucks is among the companies that are interested in Web3. Last year, Starbucks introduced Odyssey, a rewards program that allows the purchase of digital collector’s stamps in NFT format.
BoA Believes Starbucks’ Web3 Initiative Will Succeed
Bank of America (BoA) said that Starbucks’ Odyssey program, an extension of Starbucks Rewards aimed at increasing brand loyalty in the virtual world, is seeing encouraging signs.
Bank of America says Starbucks’ Odyssey program, an extension of Starbucks Rewards aimed at expanding brand loyalty in the virtual world, is seeing encouraging signs of early success.
A team of analysts led by Sara Senatore wrote about Odyssey in a February 28 note:
“Odyssey provides the ability to develop loyalty beyond its transactional origins. Members can earn Odyssey Points by completing interactive journeys (as well as purchasing drinks) and redeem them for interactive experiences, including access to special events and international trips.”
The coffee company, which launched beta testing of Odyssey in December, allows members to participate in interactive journeys such as games, virtual tours about coffee education and Starbucks history, and earn Odyssey Points or journey stamp NFTs, which can be exchanged for rewards.
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