Starbucks Bets on NFT Loyalty Program to Build Community and Let Customers Truly Own Rewards
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Starbucks launched an NFT-based loyalty program in 2022 called Starbucks Odyssey to enhance customer experiences and build community. It has over 58,000 active participants.
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The program's community lead, Steve Kaczynski, sees NFTs as a good way for brands to build loyalty and let customers "truly own" their rewards.
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Kaczynski gave an example of a Hot Pockets NFT promotion that could give gamers discounts for buying a Fortnite skin and connecting a crypto wallet.
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He explains how NFT ownership is like owning an original painting versus just a photo, giving value beyond the asset itself.
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While not all customers buy/sell NFTs, having the option is important and makes loyalty programs less one-sided. Brands can expand "brand anchors" like rewards programs.