Starbucks Sells Out 2,000 NFTs in Less Than 20 Minutes

In just 18 minutes, Starbucks Odyssey, the company’s Web3 loyalty program, sold out its first collection of NFTs, called “Stamps.” The collection, consisting of 2,000 limited-edition NFTs called “Siren Collection,” was released on Thursday with each stamp priced at $100. However, due to the overwhelming response, the site crashed.

Odyssey is currently in beta mode, with membership only through invitation, and requires members to complete quizzes, in-store purchases, and other activities to earn stamps. The program was launched with the intention of creating an experience specifically for non-crypto users. Stamps can only be purchased with a credit card.

The Nifty Gateway secondary market has already listed the limited-edition stamps, with one selling for over $1,500. As of Friday morning, the average sale price was $442, and the total secondary market volume of Stamps was $121,795.

According to Andy Sack, co-founder and co-CEO of Forum3, Odyssey is a “next-generation loyalty platform” that seeks to establish relationships between Starbucks customers and the brand.