Perhaps not all that surprising given the downturn in interest in Web3 and NFTs among big brands, Starbucks announced today that it’s shutting down its Web3 loyalty program Odyssey.
The Odyssey program allowed members to gain benefits through playing games and participating in activities called Journeys. When they completed Journeys, members earned points and received NFTs (called Journey Stamps) that gave them access to exclusive benefits. Members could also purchase limited edition NFTs, which provided them with additional Odyssey points and unique artwork.
According to an FAQ about the program’s transition, Starbucks says they will close the Odyssey beta on March 31, 2024, and users will have until March 25, 2024, to complete any remaining Journeys. The company says it will transition the Odyssey marketplace to the Nifty NFT marketplace, where users can buy, sell, and transfer Odyssey stamps. As part of the move, the company said they are also shutting down the Odyssey discord server on March 18.
The effort was shepherded by the former Starbucks chief digital officer Adam Brotman through his company Forum3. Like many Web3 startups in the past 12 months, Brotman and his cofounder Andy Sacks have made a hard pivot from Web3 to generative AI as their primary focus, with their new tagline being “Where AI Meets Digital Transformation.”
Some crypto sites have asked whether the program will return, and while Starbucks left the door open in its FAQ with a bland stay-tuned message – “While the Starbucks Odyssey Beta program is ending, we are excited for you to see what comes next and are grateful for your consistent engagement and feedback” – my guess is the company likely will de-emphasize things like tradeable NFTs even if it looks to use some form of underlying blockchain architecture in the future.
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