Bitcoin moves just above $20,000 – Starbucks launches “Starbucks Odyssey” to give customers access to NFT

The bitcoin price fell 0.04% today (September 15) to $20,265.24.

Bitcoin moved into negative territory this morning after the Dow Jones Industrial Average rose in a narrow 30-point range on Wednesday (Sept. 14), supported by investor buybacks after the previous sharp decline in stocks.

  • The Dow Jones Industrial Average rose 30.12 points, or 0.10%, to close at 31,135.09 points.
  • The S&P 500 was up 13.32 points, or 0.34%, at 3,946.01.
  • The Nasdaq rose 86.10 points, or 0.74%, at 11,719.68 points.

Major U.S. coffee chain Starbucks made a foray into cryptocurrencies this week, announcing the launch of the Starbucks Odyssey program, which allows Starbucks Reward customers to earn and purchase NFTs. It is a digital asset that accesses Starbucks Rewards via Web3, the modern internet.

The Starbucks Odyssey program will launch in the U.S. for the first time later this year.

Starbucks is merging its NFT platform with Starbucks Rewards to create a digital community that will enable Starbucks to find new ways to engage with members and partners.

Starbucks Odyssey is an extension of Starbucks Rewards that members can access with their Starbucks Rewards credentials and instantly participate in Starbucks Odyssey with various activities.

The report states that Starbucks has partnered with Polygon, the cryptocurrency blockchain. Starbucks believes Polygon has a sustainability policy that aligns with the company’s intentions. Polygon is a blockchain that uses a proof-of-stake process. This involves providing collateral in exchange for the right to review and verify transactions on the blockchain. Compared to early blockchain networks such as Bitcoin and Ethereum, this can significantly reduce power consumption.

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