Starbucks Drops ‘First Store’ NFT Collection

Starbucks is dropping its First Store Collection of NFTs on Wednesday at 3pm ET. There are 5000 up for grabs at $100 each, and they’re modeled after the original Starbucks storefront, which opened in 1971 in downtown Seattle.

The newest collection of “journey stamps” marks the seventh $NFT drop by Starbucks. Like the previous collections, the First Store stamps will be minted on Polygon’s PoS sidechain, and will be sold on Gemini-owned Nifty Gateway.

Starbucks is also looking to integrate its existing rewards program and its $NFT drops with Starbucks Odyssey — an unreleased Web3 rewards platform with a waitlist open for members. The plan is to allow users to earn points through ordering at Starbucks, which they can then redeem towards exclusive digital collectibles.

There is no official timeline for Starbucks Odyssey, but Starbucks sent out an email to Odyssey beta users with the subject line, “We’re Getting Closer,” Decrypt reported.

Starbucks’ first foray into the $NFT marketplace was in December when it listed a free Holiday Cheer Edition 1 $NFT for early users, featuring the well-known red and white Christmas coffee cup. The highest active offer for one of those is now $901.

The coffeehouse giant dropped the Siren Collection — its first premium $NFT — in March 2023, with a base price of $100. As the name suggests, each of the 2000 collectibles has a unique rendering of a siren, the creature from Greek mythology who lures sailors to their doom with her hypnotizing song. As of today, one of these NFTs will cost you an average of $690.