What are we supposed to make of Starbucks Odyssey, a metastasized version of their rewards program? Let's have Howard Something Something tell us directly:
"We believe this new digital Web3-enabled initiative will allow us to build on the current Starbucks Rewards engagement model with its powerful spend-to-earn Stars approach while also introducing new methods of emotionally engaging customers, expanding our digital third place community, and offering a broader set of rewards, including one-of-a-kind experiences that you can't get anywhere else, integrating our digital Starbucks Rewards ecosystem with Starbucks-branded digital collectibles as both a reward and a community building element."
Eugh. Now, he didn't say NFTs, because he's not dumb. But they're NFTs.
Because they have to genuflect to markets and investors, it's absolutely vital that Starbucks offer up these sorts of paens. This is what happened with Kickstarter. These are solvent, functional companies that are nonetheless driven to these acts of debasement and devil-worship because growth.
In any case, it's just a normal loyalty program goated with a new sauce. That's all it is. Just so we are absolutely clear, it's exactly as I said before: this stuff is happening. But, Tycho! I sent a two hour video of a smug man in earth tones to all my friends. Doesn't that mean NFTs are over? Ecological arguments about Bitcoin mining will not stop it. Two-hour YouTube videos will not stop it. YouTube will monetize a two-hour video while they prepare their own approach. You will not have "NFTs" in your "Wallet" when the real players hit. That shit was for the nerds currently being annihilated in the crash. They may be Stamps - as they are in Starbucks Odyssey. Your loyalty program will be app driven, your "wallet" will be your Passport, and it's gonna get Stamped when you do shit they like. Then, you'll be free to reap the rewards.
(CW)TB out.
