
Starbucks $SBUX has announced the discontinuation of its web3 NFT program, sparking a wide range of reactions across the digital space. The decision to shut down the Starbucks Odyssey NFT program, reported by Tech Crunch, has been met with both criticism and support, highlighting the challenges mainstream companies face when entering the web3 and NFT markets. Despite the closure, Starbucks' move to end its NFT initiative is seen as a strategic pivot, as the company plans to transition its Odyssey marketplace to the Nifty marketplace by the end of the month, indicating a shift towards new developments. The closure of the program has been attributed to various factors, including the lack of engagement and perceived value to users, as well as the failure to capitalize on a billion-dollar opportunity by not offering unique NFTs in Starbucks locations similar to their physical cups. The experiment's end also reflects the broader skepticism towards the viability of merging mainstream business models with web3 concepts, despite the potential for innovative loyalty programs. Notably, Starbucks almost built this on @solana, but the plan fell through in the final days. The failure of the program was not due to its technical foundation on @0xPolygon, as it was designed to abstract complexities away from the end user.
Starbucks Discontinues #NFT Program to ‘Prepare for What Comes Next' #starbucks #starbucksodyssey https://t.co/4cJwUWg6bV
From the end of this month, Starbucks' Odyssey marketplace will transition to the Nifty marketplace as the company makes way for new developments. https://t.co/QgolQTL6TQ
Starbucks shuts down their NFT program. Honestly good. 1 more proof point that the 2.5 meme will absolutely never work. You either fully in or you out. https://t.co/SzkQT1jgd1
