Starbucks will shut down its NFT rewards program

The Starbucks NFT rewards program will be gone soon.

At the end of 2022, Starbucks stand on tiptoes Enter the world of Web3 with the launch of Starbucks Odyssey, a new NFT rewards program. Since then, it has been a closed, invitation-only beta.

However, according to a Recently updated FAQs On the official Starbucks Odyssey website, seem The NFT rewards program will never leave beta. That’s because Starbucks is killing it.

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What happened to Starbucks Odyssey?

On March 15, Starbucks added the following question to its FAQ: “Why is it ending the Starbucks Odyssey Beta program?”

“As we continue to grow the program, the Starbucks Odyssey beta must come to an end to prepare for what’s next,” Starbucks’ response reads.

The Starbucks Odyssey program will officially end on March 31, according to the website. Closed beta users have until March 25 to complete any remaining journeys, which are “themed activities” such as online games and quizzes that enable members to earn NFTs and reward points. The project’s Discord channel, a staple element of any Web3 community, will close on March 19th.

Starbucks shared its cryptocurrency-related ambitions in early 2022, when the market was still booming. At that year’s Partner Open Forum, Starbucks CEO Howard Schultz attempted to end ongoing union activity among employees. One of the talking points Schultz used when trying to get them excited about the company’s union-free future: NFTs.

“We’re going to get into the NFT business,” Schultz Announce.

Cryptocurrencies have seen a minor recovery over the past few months, with Bitcoin’s value rising to all-time highs.However, retail investor caution remains after 2022 Encryption collapse and The demise of FTX.Additionally, NFTs or non-fungible tokens Haven’t really seen the signs yet a potential one return Just like some crypto tokens do.Even social media platforms e.g. Facebook and Instagramremoving the NFT-related features they added for Web3 to flourish.

Still, the move comes as a surprise to those who saw the Starbucks Odyssey rewards program as a major win in the NFT space. In February, TechCrunch published interview Steve Kaczynski, community leader for Starbucks Odyssey, said he expects NFT branding to expand.Friday Kaczynski shared The coffee company was literally canceling the Starbucks Odyssey program, and he unfortunately lost his job because of it.

As for the Polygon blockchain-based NFTs issued as part of the program, Starbucks said users can continue to hold them, trade them, and buy and sell them on the Nifty Gateway NFT marketplace.

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