Starbucks' NFT Venture: Pumpkin Spice Edition

Martin Walker
Oct 7, 2023 at 09:56 am

Operational Streamlining at Yuga Labs

Yuga Labs, the visionary behind the Bored Ape Yacht Club, has recently undergone a significant reorganization, resulting in the streamlining of various roles across the company.

While the precise number of positions affected remains undisclosed, Yuga Labs CEO Daniel Alegre, in a blog post shared via X (formerly Twitter) on October 6, alluded to the company having embarked on an ambitious array of projects, inadvertently diverting its attention from its core objectives.

"It quickly became evident that several well-intentioned projects were either overextending our team or demanding expertise beyond our established strengths," he candidly acknowledged. He elaborated:

In order to craft truly extraordinary experiences that resonate with our communities and align with our business aspirations, we must now channel our energies into a select few key initiatives and seek collaboration with compatible external partners to bring these visions to fruition.

Looking ahead, Alegre outlined the company's heightened commitment to community development, going above and beyond for their Otherside metaverse project, and fostering strategic partnerships with established brands.

Nike's Trailblazing Web3 Footwear

Nike's groundbreaking foray into the Web3 realm, through its Swoosh division, unveils its inaugural line of physical sneakers named Air Force 1 Low Tinaj.

These sneakers boast an artful amalgamation of pristine white and bold black panels adorned with the signature blue Swoosh logos.

As officially announced on X on October 5, these exclusive sneakers will be accessible solely to dedicated Swoosh members who purchase and unbox at least one OF1 Box nonfungible token (NFT) before the looming October 16 deadline.

The OF1 Boxes are priced at a competitive $120 each and are conveniently available for purchase on the Swoosh website.

However, it's pertinent to note that not every individual unboxing these coveted boxes will secure a pair of the much-coveted Tinaj shoes. The Swoosh team emphasized on X that the supply is indeed limited, yet refrained from specifying the precise quantities available.

Those unboxing OF1 Boxes without the prospect of securing the Tinaj shoes are assured of alternative perks and future access to exciting drops.

Mythos Chain Surpasses Polygon and Solana in a Remarkable Surge

The dynamic and gaming-centric Mythos Chain has experienced an exceptional surge in NFT trading volume, propelling the network ahead of both Polygon and Solana to claim the position of the second-largest blockchain in terms of NFT sales volume over the past 30 days.

According to comprehensive data from CryptoSlam, Mythos Chain has witnessed an impressive $33.5 million worth of NFT sales volume over the last month, marking an astounding 20.31% surge during this period.

In contrast, both Polygon and Solana experienced a decline in their NFT sales volume, with Polygon at $30.9 million and Solana at $27.9 million, reflecting declines of 45.50% and 16.77%, respectively.

Top 10 blockchains by NFT sales volume. Source: CryptoSlamTop 10 blockchains by NFT sales volume. Source: CryptoSlam 

A significant majority of the trading volume on Mythos Chain emanates from DMarket, a prominent NFT marketplace hosting NFTs associated with a wide array of games linked to Mythical Games, the visionary force behind the Mythos Chain.

One particular game possibly fueling this surge in NFT sales is Nitro Nation World Tour, an enthralling Web3 mobile street racing game that officially took its engines roaring in October, backed by none other than the revered DJ Deadmau5.

Rev up your engines and gear up! The Nitro Nation - World Tour is now hurtling forward at full throttle!

Starbucks Takes a Unique Leap into NFT Territory — An Intriguing Move

Starbucks has ventured into the realm of non-fungible tokens (NFTs) by unveiling an open-edition series of Pumpkin Spiced Latte NFTs, available for purchase exclusively on the Nifty Gateway marketplace.

These alluring NFTs are priced at an affordable $20 each and are open for acquisition from October 5 to 9.

As of the present moment, a notable 1,213 NFTs have been minted, implying that Starbucks has garnered just under $25,000 from this captivating collection thus far.

Pumpkin Spiced Latte drop. Source: Nifty GatewayPumpkin Spiced Latte drop. Source: Nifty Gateway

These NFTs form an integral part of Starbucks' innovative Web3 loyalty rewards program, aptly named Starbucks Odyssey. This pioneering program introduces NFT stamps, including the coveted Pumpkin Spice Latte, allowing collectors to accrue points and unlock bespoke rewards.

Further Noteworthy Updates and Progress

CMCC Global, a prominent crypto-focused venture capital firm headquartered in Hong Kong, has achieved a remarkable milestone by successfully raising a substantial $100 million. This substantial fund infusion is slated to bolster burgeoning Asian blockchain startups. The fund, christened the Titan Fund, is strategically focused on key investment areas, including blockchain infrastructure, consumer-centric applications such as gaming and NFTs, and pivotal financial services encompassing exchanges, wallets, and lending and borrowing platforms.

In a significant stride towards the establishment of its own comprehensive blockchain ecosystem, PayPal has taken a significant step forward by filing a patent application for an innovative NFT purchase and transfer system. This patent application, submitted in March and subsequently published on September 21, outlines a sophisticated means of executing transactions involving NFTs, both within the blockchain and beyond.

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