Starbucks NFT loyalty program coming to Polygon!

Welcome back to Decentra Daily, the NFT newsletter that does the digging for you.

Estimated read time: 4 minutes

Today's agenda:

• Starbucks reveals its NFT platform

• Decentra Daily giveaway reminder! (Wolf Game)

• Eth Dev makes a bank using NFTs

• GameStop - FTX partnership

Starbucks reveals its NFT platform

Starbucks has shared the first real details of their upcoming web3 project, Odyssey. It will run on Polygon and have a marketplace powered by Nifty Gateway.

That’s: a huge brand 💰 + one of the most established scaling solutions 📈 + a major NFT marketplace 🛒 = 🤩🤩

Odyssey is a rewards program / NFT wallet that will hand out “immersive coffee experiences” to committed Starbucks drinkers.

What’s an immersive coffee experience?

tbh, it sounds a lot like a free latte. But according to the press release, the platform will also contain:

• Tokenized collectible stamps (some designed by Starbucks & famous artists employees) that you can purchase or earn by completing “Journeys,” which include mini-games and quizzes.

• Limited edition NFTs purchasable by credit card

• Points-based rewards for the biggest holders, including merch, Starbucks Reserve Roastery event tickets, and trips to Costa Rica.

There are some legit-sounding web3 ideas here, too. Starbucks says they want Odyssey to be a coffee shop-like online space where rewards loyalty program members are connected “not just to Starbucks, but to each other.”

And Starbucks knows how to use digital collectibles

We wrote back in August about Starbucks’ super-addictive Stars program, plus how they pioneered digital wallets, mobile ordering, and even in-store wifi long before any other big corporation.

So, expect Odyssey to be far more ambitious than your average corporate NFT project.

Join the waitlist now for early access to Starbucks Odyssey later in the year. If you’re already a Starbucks rewards program member, you can continue to use your account and login details.

Here is a great thread on the Starbucks NFT program:

Decentra Daily Wolf Game Giveaway

Here's your reminder that this month is our Wolf Game giveaway! We are giving away a 'starter pack' worth >1.5 ETH ($2,500):

Successful newsletter referrals earn 5 entries each

Any interactions on our Wolf Game social posts also act as entries to the giveaway, you can read all about the giveaway in this post:

Eth Dev makes a bank using NFTs

One of the best things about writing about web3 is seeing people invent disruptive ways to use the tech.

Adam Eisenman (@0xDigitalOil), an Ethereum developer who’s also worked on iOS and satellite systems, has done just that – “deploying the first decentralized NFT bank on Mainnet.”

The basic idea here is to use NFTs as bank accounts for holding and transferring crypto (or any asset that meets Eth’s ERC-20 standard).

This should make it easy to move funds from your wallet into an NFT, then send those funds to somebody else’s NFT for them to withdraw.

If combined with NFTs that represent your online ID, plus naming protocols that give them simple addresses, there’s potential for lots of utility here.

Conveniently, Eisenman has already invented one of those, too. Nifter is a platform that allows you to give any ERC-721 token a simple, unique name:

I’ll let Eisenman explain the full details of his bank:

GameStop - FTX partnership

There’s been talk for a long time about GameStop (GME) becoming a major marketplace for NFT games.

Yesterday, another piece of that puzzle seemingly fell into place, with an announcement about a partnership between the gaming platform and the crypto exchange, FTX.

While there’s very little detail on what exactly the partnership will involve, a short statement did say that FTX and GameStop will “collaborate on new eCommerce and online marketing initiatives,” with the aim of introducing GameStop customers to FTX’s “marketplaces for digital assets.”

What might this mean?

It could mean FTX will help facilitate payments on GME’s website/marketplace. If the partnership is more substantial, maybe there’ll be cross-promotion of games and collectibles – or even an FTX store for GME games?

Anything else?

GameStop will also stock FTX gift cards in several storefronts and be “FTX’s preferred retail partner in the United States.”

It sounds like FTX will use GameStop stores for a physical presence, while GameStop gets to add another piece of utility to its reimagined business model.

Watcher.guru noted that GameStop shares jumped 11% in reaction to the announcement.

Here’s the short statement in full.

Headlines of the day

• NFT Collection Doodles Raises $54M at $704M Valuation

• Bored Ape NFT Band to Make Music With Beyoncé-, Timberlake-Linked Producers

• Bitcoin Loses 6%, Equities Fall as Inflation Exceeds Estimates

Disclaimer: Nothing in this article/newsletter should be considered financial advice. The purpose is to inform readers of the current trends and news in the web3 space. We encourage every reader to do their own research and not act upon information put forth by Decentra Daily.