Coffee giant Starbucks is teaming up with Polygon (MATIC) to give its loyalty program customers a chance to buy and earn collectible non-fungible token (NFT) stamps.
Starbucks Coffee Company is turning to Polygon to launch the collectible digital stamps as part of its Web3 program called Starbucks Odyssey.
The program will launch later this year, but a waitlist for customers went live Sept. 12.
Brady Brewer, Starbucks’ executive vice president and chief marketing officer, says,
“For the first time we are connecting our Starbucks Rewards loyalty program members not just to Starbucks, but to each other. Leveraging Web3 technology will allow our members to access experiences and ownership that was not possible before. Starbucks Odyssey will transcend the foundational benefits that our Starbucks Rewards members have come to love, and unlock digital, physical and experiential benefits that are uniquely Starbucks.”
Sandeep Nailwal, co-founder of Polygon, says,
“As a leading infrastructure provider enabling people and technology to collaborate and exchange value globally and freely, Polygon provides the ideal launchpad for Starbucks’ entry into Web3.”
By playing games or completing other coffee-related activities, program members will earn NFT stamps which have their own assigned point value, and can also be available for purchase.
The partnership comes as Polygon is reportedly increasing its workforce by 40% with the hiring of about 200 managers, engineers and Web3 developers.
At time of writing, MATIC is trading at $0.91.
Earlier this week, Binance, the largest crypto exchange in the world by volume, said that NFTs were transforming how big brands go about rewards programs and connecting communities.
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