100% Of Starbucks ‘Odyssey’ NFT Minters Are in Profit

Which is all effectively and good for holders – however 211k NFTs offered/gifted to a gaggle of 42k members, all for $172.5k in royalty income (remodeled 7 months) for Starbucks??

That’s PEANUTS (much less than peanuts) for a $119B firm with a buyer base of 100M individuals.

So, how a lot room is there to develop right here?

There is no method Starbucks goes to have the ability to get all 100M of its clients to hitch the Odyssey program…however let’s faux it is doable and work our method up from the place we’re at in the present day.

Proper now, 0.042% of Starbucks clients are Odyssey members.

This system has been operating for simply over half a 12 months and made $172.5k – so let’s name that $345k per 12 months.

Now, let’s have a look at what occurs as we begin to bump the member quantity up…

• 0.042% of buyer base = $345k p/y

• 1% of buyer base = $8.21M p/y

• 5% of buyer base = $41M p/y

• 10% of buyer base = $82.14M p/y

• 20% of buyer base = $164.28M p/y

• 40% of buyer base = $328.57M p/y

• 80% of buyer base = $657.14M p/y

• 100% of buyer base = $788.57M p/y

Is that this math appropriate? Nope! It is method off. It assumes that the buying and selling quantity, together with the availability and demand of/for these NFTs will scale easily.

It will not. It is wonky as hell.

BUT! It does offer you an concept of the advantages that NFT reward packages supply legacy manufacturers like Starbucks 👇

The Web2 methodology = run a rewards program → promote extra espresso.

The Web3 methodology = run an NFT rewards program → make recurring income from secondary NFT gross sales → promote extra espresso.

Niiiice!