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Starbucks enters the metaverse and its approach just might work

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Starbucks has become the latest food and beverage company to enter the metaverse with the launch of the Starbucks Odyssey experience.

No matter how successful your business is, betting on NFTs is quite risky. Although the NFT market is still healthy, many people do not consider launching one for business.

In fact, there is a long list of companies that have canceled or apologized for NFT disclosures. However, some companies are still willing to try it. The latest is Starbucks, which relies on the fact that its customers are willing to engage in digital experiences.

What is Starbucks Odyssey?

While Starbucks’ revenue has grown by about 9% this year, like other businesses, it has been hit hard during the pandemic. Coffee companies are now looking for different ways to engage with their customers and believe that blockchain technology is the way to go.

The Starbucks Odyssey experience is an interactive platform that allows users to connect with other Starbucks fans and collect digital rewards. The journey begins when users unlock their first “stamp” by completing an interactive game.

How customers can benefit

How do customers benefit from connecting with each other? Well, the more journeys users complete, the more stamps they can collect. These stamps can be used to avail exclusive benefits and rewards.

For example, users who collect enough stamps will be able to get exclusive merchandise or access a martini-mixing course in the Metaverse. But the rewards aren’t just small. There are some big prizes on the platform.

With enough stamps, a user can even take a trip to one of the Starbucks-owned coffee bean farms in Costa Rica.

The Starbucks Approach

Starbucks’ approach is quite different from other companies that have tried to enter the metaverse. While most companies require users to create crypto wallets and use cryptocurrencies, Starbucks allows them to receive “limited edition stamps” with their credit cards.

This means that customers do not need any knowledge of crypto wallets or cryptocurrencies to participate in the experience. And that’s a big advantage. Starbucks willingness to experiment with new technology shows that the company is open to change.

Why Web3 in the first place?

Now, you may be wondering why Starbucks is entering the metaverse in the first place. After all, the company already has a very successful loyalty program.

Metaverse helps companies both build loyalty and gain access to consumer data that they can use to improve their products. As the company evolves, it will be able to use the data it collects to better understand customers.

Starbucks Odyssey is still a bet. But it’s a smart thing that just might pay off. If they manage to pull this off, they will be able to stay ahead of the competition and keep their customers engaged.



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