Who Can Sell 2,000 NFTs in 20 Minutes?

Mar 14, 2023
2 min read

On March 9, the release of the NFT collection "The Siren Collection" took place. This project is a part of the Starbucks Odyssey loyalty program. The collection consists of 2,000 tokens with the iconic brand's mermaid.

Alongside different famous NFTs from celebrities, Starbucks decided to join Web3 space. First rumors about the launch of thematic NFTs by a famous coffee chain appeared in December last year. At that time, the testing version was available only to residents of the United States.

Now "The Siren Collection" is available to all members of the loyalty program, as well as those users who have received an invitation to join. Each member of the Starbucks Odyssey Club could buy only two NFTs for $100 each. For payment, customers could use fiat or cryptocurrency with the help of MetaMask. The entire collection was sold out in less than 20 minutes. Because of the high level of demand, there were even some troubles with accessing the Starbucks Odyssey website.

Since the whole collection was quickly sold out, now it’s possible to buy these tokens only on the secondary markets. But be prepared for high prices due to the popularity of Starbucks NFTs. Tokens started at $100 and now they’ve reached $550 and more.

At the same time, Starbacks NFTs, known as “stamps”, from the first test launch already cost about $1300-1700. Why was the project so successful? There are two main reasons for such high demand: brand popularity and a good “warm up” of customers.

Everyone knew about the ongoing development of Starbucks NFTs for several months. The company set a small price per item and gave access to the secondary markets. Thanks to all this, the collection has great marketing potential. For Starbucks fans, the “stamp” is a symbol of belonging to the brand that costs only $100. Small price to pay for their passion.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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