Data Interpretation: Holders are reluctant to sell, Starbucks NFT series are profitable across the board

Author: S4mmy.eth, encrypted KOL

Compiled by: Felix, PANews

In September 2022, Starbucks announced its entry into NFT and launched the "Starbucks Odyssey (Starbucks Odyssey) Plan", which combines club members with NFT through Web3 technology to unlock new scenarios. In December 2022, Starbucks launched a new loyalty program called "Starbucks Odyssey," which allows members to earn and purchase digital collectibles called "Journey Stamps." These stamps can be used to unlock new perks and immersive coffee experiences. For example, members can use their stamps to get discounts on coffee, access exclusive content, and even win trips to Starbucks coffee plantations.

Every user who mints a Starbucks Odyssey digital stamp earns a profit. With only 0.42% of its 100 million customer base holding NFTs, the potential for growth is huge.

![Data Interpretation: Holders are reluctant to sell, Starbucks NFT series are profitable] (https://img-cdn.gateio.im/resized-social/moments-69a80767fe-178cd49ba6-dd1a6f-1c6801) At present:

• Total market capitalization on the floor is US$9.4 million
• 211,000 NFTs (stamps) minted
• 42,000 holders
• Secondary transaction volume reached $2.6 million

The Holiday Cheer collection is currently priced at $745 on the floor. About 0.4 ETH.

The release price of the latest series (The Green Apron) is US$100. Due to the existence of casting qualification standards, it means that these NFTs have a premium in the secondary market. At present, the casting has ended and the floor price is US$115. (Note: Starbucks will launch the classic "Green Apron (Green Apron)" NFT series on the NFT market Nifty Gateway on August 2. It will be open to eligible Odyssey members at 0:00 on August 2, Beijing time. Points are open to the public. The series has a total of 5,000 NFTs, issued based on Polygon, and each NFT is priced at $100.)

Commemorative Siren collections have deals every few hours for around $300. The series was minted five months ago, but the transaction price is still 3 times the minting price, which is better than many leading NFT projects. (Note: Starbucks launched the first limited-edition NFT series "Siren Collection" in March. The series has a total of 2,000 works, the theme is Starbucks' iconic siren, and each NFT is priced at $100.)

Starbucks Odyssey's new loyalty program encourages the accumulation of points through "journey" participation. Those who participate get early access to the next NFT in the series. This is a very clever strategy to guide customers to invest in the brand.

In addition, the threshold design is also outstanding, and users can easily obtain it.

1. Sign up for the Odyssey program.

2. Set up an account with an email/crypto wallet.

3. Purchase stamp NFTs with fiat currency or cryptocurrency.

This is similar to the Reddit model design.

Every minter is in a state of unrealized profits (i.e. not sold). The reason is simple. The market believes that the value obtained by holding NFT is higher than the price at the time of casting, and the experience of collecting stamps and exchanging exceeds the proceeds of selling.

Obviously, Starbucks has successfully positioned a core audience that resonates with the program, and will continue to introduce more series to customers in the future. Points will restart in 2024, so you may see price adjustments as that date gets closer. This model has great potential. If only 1% of the user base adopts digital stamps, that's 24 times the current transactional activity. A thriving ecosystem intertwined with consumer products loved by the existing user base, ☕️.

Related reading: Starbucks has been exploring Web3 for half a year. What has the Odyssey project done?