Starbucks, the iconic coffee giant, has made the decision to close its Odyssey Beta program, marking a significant departure from blockchain rewards initiatives for the foreseeable future. The Seattle-based company notified customers of the impending closure of the Odyssey Beta program via email and an update on its FAQ page. In the announcement, Starbucks emphasized the necessity of ending the program to pave the way for future developments, stating, “The Starbucks Odyssey Beta must come to an end to prepare for what comes next as we continue to evolve the program.”

Program Overview

Launched in late 2022, the Odyssey Beta program garnered considerable attention for its innovative integration of blockchain technology with customer loyalty initiatives. It allowed members to participate in various activities and “journeys,” earning, buying, and trading non-fungible tokens (NFTs) stamps. The Odyssey Beta program is scheduled to officially end on March 31, with members given until March 25 to complete any outstanding activities and journeys. The initial NFT collection, consisting of 2,000 “Journey Stamps,” sold out within 20 minutes of release.

Impact and Reaction

While specifics regarding job cuts are unclear, the community lead for the program expressed the personal impact of the decision, highlighting the vibrant community that had formed around Starbucks and the Odyssey program. Using the Twitter handle @NFTbark, they shared a mix of gratitude and sadness, reflecting on their experiences with Starbucks while facing an uncertain future.Starbucks has pledged to communicate one final benefit to Odyssey members who have achieved Level 1 status or higher by the end of March. While points will expire with the program’s conclusion, Odyssey Stamps will remain accessible through Nifty Gateway, with the marketplace transitioning to the Nifty marketplace.

Industry Trends

Starbucks’ decision to end its NFT program reflects broader trends in the industry, with other major corporations like CNN and Meta also discontinuing their ventures into NFTs in recent times. This shift underscores the complexities and challenges associated with integrating blockchain technology into mainstream business operations.

Starbucks’ decision to sunset its Odyssey NFT program marks a significant milestone in the evolution of blockchain-based loyalty initiatives. It highlights the need for ongoing adaptation and innovation in the rapidly evolving landscape of digital rewards programs.