Starbucks released the first paid NFT Siren Collection at 4 am today. The mint price is $100 and the quantity is 2k. It was sold out within 18 minutes and the floor price once exceeded $600. It is currently $378, still a 278% increase. I sorted out the trends from the internal test to the present, and the intention behind it gradually became clear:
- Free Stamps
- Paid Stamps
- Podcast & Event
- Lifestyle Brand
1.Free Stamps Starbucks
Since Odyssey started its internal beta in December last year, it has released 4 Journeys, corresponding to 4 Stamps (NFT), and has generated a secondary market transaction volume of $218k. These 4 Stamps are redeemed for free with points after completing the task, that is to say, the initial holders have all realized the participate-to-earnholiday season. (Related reading: ” Starbucks enters web3, marking the next milestone in the NFT industry “)
80% of the trading volume is contributed by the Holiday Cheer Edition 1 Stamp. The floor price of this NFT is currently $1499, and the highest has reached over $2000. The utility of this Stamp is currently unknown. The reason for the high price may be that its holiday season itself has been deeply rooted in the hearts of the people. , the theme is different every year, with some commemorative value corresponding to the time-limited task Holiday Cheer, 2023.1.2 has ended.
When Starbucks opened the Odyssey internal test in December, it revealed that there will be limited edition paid Stamps. After 2 months, the first teaser email will be sent out, and then there will be a Sneak Peak every few days. The rhythm is not bad.
The Siren Collection, which is on sale today, is an artwork based on its Siren logo and will earn 1,500 points upon purchase. It’s official: Each stamp features a Starbucks Siren you’ve never seen before, as well as a variety of our artwork from the past fifty years. Each design depicts our love of coffee with beautiful, layered artwork through legend, myth and adventure, each one unique.
3.Podcast & Event
In addition to Odyssey, Starbucks has also done an interesting thing, and the podcast curation platform Hark Audio jointly launched a podcast called The Starbucks Daily (built into the Starbucks App). Through 2-6 minutes of audio selections every day, the user’s experience of drinking coffee can be improved. In addition, CMO said that it will also provide members with special events, such as the opening ceremony of the new Empire State Building
Around the creation of a series of content, including Odyssey, Starbucks Daily and Event, Starbucks continues to increase opportunities to interact with members. The interaction with Starbucks doesn’t end when a member buys their coffee: they can listen to podcasts, earn NFTs in Odyssey, and attend events at night. In these scenarios, more categories can be added, its commercial space can be improved, and it can be upgraded to a lifestyle brand.
CEO Howard Schultz said on the earnings conference call that he has discovered a durable and transformative new category and platform for the company, which is different from anything he has experienced. Then he revealed a word Alchemy. Alchemy has the meaning of alchemy, and it may refer to the Alchemy Web3 development platform of the same name. It will wait and see what it will do .
In addition, more and more executives of large companies are entering Web3:
- Ex-Samsung Electronics President Young Sohn Advises Decentralized KYC Astra Protocol
- Former Apple Marketing Director and Electronic Arts (EA) Founder Trip Hawkins Joins Web3 Game Development Company Games for a Living as Chief Strategy Officer
Hopefully these industry veterans can help find better PMFs.
At present, the rhythm and delivery of Starbucks Odyssey are not bad. The brand building around the lifestyle will raise its ceiling step by step, hoping to influence more large Web2 companies to enter Web3.