Starbucks and Polygon cooperate to build Web3 to increase user experience

On September 12, 2022, Starbucks launched Starbucks Odyssey on Polygon. A unique experience that allows you to earn and purchase digital collectible stamps and unlocks a new exciting coffee experience.

Starbucks is the world’s largest coffee chain, present in more than 80 countries with more than 33k stores, revenue in 2021 ~ $29 billion. Starbucks Odyssey will be an extension of the industry-leading Starbucks Rewards program, Starbucks Odyssey, helping members enjoy engaging experiences and incentives.

Polygon will provide the public infrastructure that enables digital ownership. So that companies like Starbucks can interact with customers on Web3 with near-zero gas fees and instant transactions.

The combination provides a new Web3 experience, allowing Starbucks Rewards Loyalty program members and Starbucks partners (employees) in the US to earn and purchase digital collectible stamps in the form of tokens. non-replaceable message (NFT). This one-of-a-kind loyalty program experience is backed by low fees and high transaction speeds on the Polygon PoS network.

Experience Web3 with Starbucks and Polygon

The implementation of Web3 technology will pave the way for Starbucks to interact with Starbucks Rewards members in exciting new ways, giving you the opportunity to experience a wide variety of coffees from unique products and artist collaborations to invitations to exclusive events.

Starting September 12, customers and partners can join the waitlist for a chance to be the first to receive access to the Starbucks Odyssey experience, which will launch later this year.

“Building the Starbucks Odyssey using technology in line with our aspirations and commitment to sustainability is a top priority,” said Ryan Butz, director of strategy and marketing at Starbucks. Took a very thoughtful and thorough approach when evaluating which blockchain to use. And Polygon’s fast, low-cost, and zero-carbon network is the perfect platform for our first digital community.”

Why Polygon?

In Starbucks’ announcement, they deliberately chose to use Polygon because it aligns with the company’s sustainability commitments. Polygon uses a proof-of-stake (PoS) consensus, which uses a lot less energy than first-generation blockchains like Bitcoin and Ethereum.

“We have taken a very thoughtful and thorough approach when evaluating which blockchain to use, and Polygon’s low-cost and fast carbon-neutral network is the perfect foundation for the first digital community. ours.” according to Ryan Butz, vice president of customer service, strategy and marketing at Starbucks.

Polygon co-founder Sandeep Nailwal added that Polygon was a “natural choice” for Starbucks, given both groups’ focus on “diversity, accessibility and sustainability”.

Ethereum – currently the most active blockchain ecosystem – has been using proof of work (PoW) since its inception, but will switch to proof of stake (PoS) later this week. Bitcoin has no plans to transition to PoS, which some industry leaders say could affect Bitcoin’s user base and regulatory status.

Polygon towards sustainable development

Polygon has committed to becoming a zero-carbon project by the end of the year and has offset its network’s accumulated CO2 debt. The transition of L1 Ethereum to a Proof-of-Stake consensus mechanism will further reduce the carbon footprint of Ethereum by 99.91% as well as that of Polygon PoS.

Polygon PoS has emerged as a hub for some of the most important Web3 projects, including DeFi protocols such as Aave, Uniswap V3, NFT marketplaces OpenSea, and Lazy.com founded by Mark Cuban. Thanks to the technical prowess of the network, the thriving ecosystem, and Polygon’s commitment to sustainability, companies such as Adobe, Stripe, and Dolce Gabbana have chosen Polygon as the defining gateway for Web3.

Sandeep Nailwal, Co-founder of Polygon, said, “Polygon is a natural choice for Starbucks as both companies place great importance on diversity, accessibility, and sustainability. As a leading provider of infrastructure that enables people and technology to collaborate and exchange value globally freely, Polygon provides the ideal launch pad for Starbucks to enter Web3. “

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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23 September 2022, 16:21:54 GMT +0000

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