We touched on dApps last week...

They're apps that use smart contracts to interact with a blockchain, and offer things like crypto & NFTs rewards to users.

Right now, the majority of dApps exist within a Web3 bubble. That is, they're built for Web3 natives (e.g. lending platforms and NFT marketplaces).

Once we start to see widely used Web2 apps integrate Web3 functionality, that's the moment real widespread adoption begins.

Starbucks announced yesterday that it plans to offer its customers NFT rewards through the Polygon network.

The 'Starbucks Odyssey' program will launch before the year is out, allowing customers and employees to collect 'digital stamps' as rewards, and unlock access to merch and private events.

Ok, so it should be acknowledged - retail adoption of blockchain technology can feel gimmicky...

Here's why this is a big deal (gimmick or not):

In 2021, the Starbucks mobile payment app had ~31M users, 5M of which use the app every week. Which is HUGE!

For context, the Apple Wallet had about ~44M users (and the iPhone has a user base of 1B people!).

If the Starbucks Odyssey app is a success, no doubt there will be a direct integration with the Starbucks payment app - which could see millions of new users onboarded into Web3.

Plus, they hold about $1B USD in unused gift cards on their app (that's more customer money than many banks have in deposits).

...Imagine if customers had the option to hold this in crypto - those are some market moving numbers.

Very exciting!

P.S. shout out to Caite from our team for getting us all riled about about this story.

READ MORE