Starbucks Ends NFT Program to Pave Way for New Ventures
Global coffee giant Starbucks has announced the termination of its digital collectible stamps program, making way for fresh initiatives.
The “Odyssey Beta program” will conclude on March 31, according to a recent statement. This program engaged users in coffee-themed games and challenges, rewarding them with digital stamps usable for accessing new benefits and interactive experiences.
The marketplace for trading digital stamps and the community Discord server will also close down, with users directed to transition to the Nifty marketplace.
The rationale behind Starbucks’ decision remains undisclosed, leaving uncertainty over future Web3 developments. However, the company emphasized the need to prepare for ongoing program evolution.
Starbucks initially launched the program in September 2022 amidst a turbulent period for the crypto industry, opting for the Polygon network due to its lower energy consumption compared to proof-of-work blockchains.
READ MORE: Crypto Trader’s Meme Coin Sell-Off Draws Global Attention
Notably, Starbucks’ move follows similar actions from other corporations. GameStop recently shuttered its NFT marketplace, while tech giant Meta discontinued NFT features on its social media platforms.
Predictions for the NFT market in 2024 vary among Web3 executives. Vineet Budki, CEO of Cypher Capital, anticipates NFTs evolving into valuable tools with real-world applications, while Oh Thongsrinoon, CMO of Altava Group, sees NFTs expanding into industries like precious metals and real estate.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
