Starbucks dropped its second non-fungible token collection ahead of its Web3 platform’s public launch. The new digital token was called the “First Store” NFT collection.

The release took place last week, and 5,000 were put up for sale at $100 each. The collection was aptly named as it features the original Starbucks storefront, which was established in Seattle in 1971.

As per CoinDesk, Starbucks limited the initial sale of its First Store NFT collection to just the members of its Starbucks Odyssey, which is an extension of its loyalty rewards program powered by Web3 technology.

Members who earned at least two Journeys Stamps and had them in their digital wallet at the time of the pre-sale are eligible to buy the First Store NFT. The coffee chain is also allowing just one token per customer.

BlockWorks reported that the First Store stamps are to be minted on Polygon’s PoS sidechain like the first NFT drops. These will be available for sale on Nifty Gateway.

The release of this new Starbucks NFT collection follows the release of the Siren premium NFT Collection which has been successful. It was dropped with a base price of $100 last month, and it consists of 2,000 collectibles of various renderings of a siren that is featured in Starbucks’ official logo.

In any case, Cryptopolitan mentioned that the latest First Store NFT was not as successful as the first drops as it failed to be a sellout. It only managed to sell 4,579 out of the 5,000 tokens in the collection.

This figure was based on the data from Nifty Gateway, which is Starbucks’ NFT marketplace partner. It was noted that the previous Siren NFT collection was immediately sold out - less than 20 minutes after release.

Photo by: Ira Ostafiichuk/Unsplash