Maybe not all that shocking given the downturn in curiosity in Web3 and NFTs amongst huge manufacturers, Starbucks introduced immediately that it’s shutting down its Web3 loyalty program Odyssey.
The Odyssey program allowed members to realize advantages by way of enjoying video games and taking part in actions referred to as Journeys. Once they accomplished Journeys, members earned factors and acquired NFTs (referred to as Journey Stamps) that gave them entry to unique advantages. Members might additionally buy restricted version NFTs, which supplied them with further Odyssey factors and distinctive paintings.
In line with an FAQ about this system’s transition, Starbucks says they are going to shut the Odyssey beta on March 31, 2024, and customers could have till March 25, 2024, to finish any remaining Journeys. The corporate says it can transition the Odyssey market to the Nifty NFT market, the place customers should purchase, promote, and switch Odyssey stamps. As a part of the transfer, the corporate mentioned they’re additionally shutting down the Odyssey discord server on March 18.
The hassle was shepherded by the previous Starbucks chief digital officer Adam Brotman by way of his firm Forum3. Like many Web3 startups previously 12 months, Brotman and his cofounder Andy Sacks have made a tough pivot from Web3 to generative AI as their main focus, with their new tagline being “The place AI Meets Digital Transformation.”
Some crypto websites have requested whether or not this system will return, and whereas Starbucks left the door open in its FAQ with a bland stay-tuned message – “Whereas the Starbucks Odyssey Beta program is ending, we’re excited so that you can see what comes subsequent and are grateful in your constant engagement and suggestions” – my guess is the corporate possible will de-emphasize issues like tradeable NFTs even when it seems to make use of some type of underlying blockchain structure sooner or later.
