Prices for Starbucks’ Polygon NFTs Have Reached the Thousands

Before the platform’s general release, early Starbucks Odyssey users are already selling the free NFT stamps for over $2,000 each.

Even though the Starbucks Odyssey NFT-driven rewards program based on the Ethereum expanding network Polygon is still in limited beta, early customers are already trading NFT stamps for roughly $2,000 each.

Since the December beta release of Starbucks Odyssey, its stamp NFTs have witnessed 360 total transactions on Nifty Gateway’s official secondary market, with over $143,000 in volume transacted. This relatively low amount is to be anticipated, given that a restricted number of waiting applicants have been accepted and the corporation has only distributed four NFT drops in total.

Currently, the lowest you can buy a “Holiday Cheer Edition 1 Stamp” Polygon NFT on Nifty Gateway is slightly over $2,000. This single NFT drop accounts for 80 percent of Starbucks’ entire NFT volume traded on the market to date.

The first printing of the Holiday Cheer stamp was limited to just 5,000 units. Free copies were supposedly handed out to Starbucks Odyssey members who had completed enough tasks and had also purchased a gift card for the holidays. But, its price has since increased, and it can now be purchased for at least $1,900.

The fact that it is Starbucks’ first-ever NFT, introduced on December 16, may contribute to its attractiveness. Others seem to be gambling on the NFT’s potential for future appreciation and are selling them at a premium. Some customers purchase multiples of the same NFT, probably because they feel they can profit by reselling them.

Also Read: Siemens Issues A $64 Million Blockchain-Based Digital Bond

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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