FIRST MOVER: Why Did Starbucks' Web3 Project Fail?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 22 March 2024
⏱️ 6 minutes
🧾️ Download transcript
Summary
CoinDesk's Jennifer Sanasie discusses why Starbucks' Odyssey project has failed.
To get the show every day, follow the podcast here.
Starbucks announced that it is sunsetting Odyssey, the 18-month experiment that uses collectible non-fungible tokens as the anchor of a loyalty program. According to two people familiar with the matter, Polygon Labs paid $4 million to collaborate with the coffee giant in 2022. CoinDesk's Jennifer Sanasie weighs in on Starbucks' failed attempt at entering the crypto space.
-
Consensus is where experts convene to talk about the ideas shaping our digital future. Join developers, investors, founders, brands, policymakers and more in Austin, Texas from May 29-31. The tenth annual Consensus is curated by CoinDesk to feature the industry’s most sought-after speakers, unparalleled networking opportunities and unforgettable experiences. Register now at consensus.coindesk.com.
-
This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Audible brings your wildest adventures to life, delivering heart-pounding thrills at the touch |
| 0:05.8 | of a button. |
| 0:07.0 | Take Richard Osmond's The Thursday Murder Club, where four retirees turned amateur sleuths |
| 0:11.8 | solve crimes in the most unexpected ways, brilliantly performed by Leslie Manville. |
| 0:17.1 | Ready to unleash your adventure aside, from pulse racing suspense to epic quests, from supernatural |
| 0:22.6 | chills to far-off romances, every story comes alive through world-class narration. |
| 0:28.5 | Explore exclusive audible originals, chart-topping new releases, and unforgettable bestsellers |
| 0:34.4 | that transport you from the very first word, because the next great |
| 0:38.2 | adventure is just a listener way. Start your free 30-day trial at audible.com slash |
| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. |
| 0:49.8 | Is Starbucks Odyssey a failure? |
| 0:52.8 | Technically, yes. The coffee giant said that they're going to be shutting down the NFT powered loyalty program |
| 0:58.0 | at the end of this month. |
| 0:59.6 | But is it a failure of Web 3? |
| 1:02.2 | Let's get into it. |
| 1:03.4 | Starbucks was a first mover when it came to a big brand launching an NFT project. |
| 1:07.9 | In 2022, you might remember Starbucks launched this new experience that would |
| 1:13.3 | offer Starbucks rewards members and Starbucks employees in the United States the opportunity |
| 1:19.0 | to earn and purchase digital collectibles that would unlock all kinds of benefits and immersive |
| 1:24.7 | experiences for users. Now, at the time, this made complete sense to |
| 1:29.7 | me, and here's why. My sister is an avid Starbucks paraphernalia collector. She has all the cups |
| 1:37.7 | from different countries. She even convinced me to get the Christmas cup last year, which is sitting |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.