New Starbucks NFTs see $166,000 in trading volume after first day of launch

Last Updated: April 21, 2023 at 1:10 p.m. ET

First Published: April 21, 2023 at 1:05 p.m. ET

Starbucks new NFTs have seen trading volume of $166,000 after the first day of launch and the current floor price is $146.97, a 48% appreciation from the initial sale price, according to DappRadar.

On Wednesday, Starbucks SBUX released 5,000 nonfungible tokens, priced at $99. The sale was restricted to one per customer, down from two per customer from the original sale of NFTs that were launched in March of this year.

Wednesday’s…

Starbucks new NFTs have seen trading volume of $166,000 after the first day of launch and the current floor price is $146.97, a 48% appreciation from the initial sale price, according to DappRadar.

On Wednesday, Starbucks

SBUX

released 5,000 nonfungible tokens, priced at $99. The sale was restricted to one per customer, down from two per customer from the original sale of NFTs that were launched in March of this year.

Wednesday’s launch of 5,000 NFTs was limited to Odyssey members, which is an app that allows members to earn and purchase collectible digital stamps to unlock new benefits and interactive experiences. Starbucks, which has long been into gamifying the coffee-buying experience with points and rewarding customers through its regular loyalty program, launched the Odyssey program in 2022.

The current floor price of the Starbucks NFTs launched on Wednesday is $146.97, according to DappRadar. A floor price is the lowest price for an NFT in a collection. This represents a 48% appreciation from the initial sale price, according to Sara Gherghelas, a blockchain analyst at DappRadar. The trading volume is $166,076 and there have been 949 secondary market sales, said Gherghelas in an email to MarketWatch.

“It is worth noting that the collection is well balanced, with 4,075 unique owners,” she said, adding that some members experienced delays in the process. “Overall, while there were some issues during the pre-sale, the general sale went smoothly and the NFTs have seen a significant appreciation in value. The balanced distribution of the collection among unique owners also suggests a healthy market for these Starbucks NFTs.”

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