2022 saw the birth of Starbucks Odyssey, the company's first venture into the web3 sphere. The experience enhanced customer experiences by combining NFTs with the company's Starbucks Reward loyalty programme.

"We can assist individuals in discovering their tribe," Kaczynski stated. "I've observed that members of the Starbucks Odyssey community who reside in California have close friendships with individuals in Chicago and have occasionally crossed paths in person. Without web3, this would never have occurred.

According to Kaczynski, there are approximately 58,000 active members of the loyalty programme at least on level one of its five-tiered scheme. "I can assure you that those aren't primarily or exclusively web3 native individuals... there are other people involved besides web3 users."

According to Kaczynski, those who completed layer five of the programme purchased a "fair amount" from the secondary markets. For instance, in December, Starbucks declared that the top 20 competitors would travel to Costa Rica to tour the company's bean fields.

Other "third-party utilities" can be created with NFTs, not just by large corporations like Nike or Starbucks, but also by smaller organisations wishing to launch loyalty programmes or employ tickets as a motivator.

Kaczynski gave this example: Suppose the food company Hot Pockets conducted a campaign offering players a 20% discount if they purchased the Fortnite skin and linked it to a cryptocurrency wallet. "The buyer is satisfied, the diner is satisfied, they receive a discount, and they are part of the ecosystem," he stated. "This person isn't just a gamer; they're an engaged player who is prepared to spend extra cash on merchandise from outside sources."

Though, to be fair, that is part of the appeal of Bored Ape Yacht Club, most people associate NFTs with pricey online images of monkeys. However, Kaczynski claims that having NFTs has additional benefits.

"Suppose you walk into a museum and there's a gorgeous painting on the wall. You can take a picture of it, but it's not really worth much. Because the museum owns the image on the wall, it is the original, and they can verify both of those claims, Kaczynski explained, the picture has monetary value. "You couldn't do that with digital items until recently," the release of NFTs.

According to Kaczynski, the idea that brands and businesses may purchase, sell, and "truly own your loyalty is a new concept that makes it less one-way." Even though not every member of the community sells and buys... I believe that having that option is crucial for a lot of people.