This week has been an exciting one for the NFT community. Starbucks launched a Web3 loyalty program, a Chinese court ruled that NFTs are property, and the Atlanta Braves hosted a metaverse baseball event.
Starbucks Launches Web3 Loyalty Program
On Thursday, Starbucks launched a beta version of its Web3 loyalty program, Odyssey. The Odyssey experience combines what you would expect from traditional loyalty programs with digital property collecting and other gamification.
The program is only available to a small group of members from the program’s waiting list including employees and customers.
According to Starbucks, these beta testers are beginning to engage in interactive “Journeys.” As they take part in the Journeys, they’ll earn “Journey Stamps” in the form of NFTs hosted on the Polygon blockchain.
Users will also earn Odyssey Points. These points are expected to open the door to additional benefits and experiences in the future. Some of these are expected to be virtual espresso martini-making classes, exclusive events, and trips to Starbucks roasteries and coffee farms.
Chinese Court Rules NFTs Are Property
In other news, a Chinese court added a further level of validation for NFTs and NFT collectors. The court in Zhejiang in eastern China said NFT collections are “virtual property.” As a result, NFTs should be protected by state e-commerce laws.
In the courtroom, NFTs were called “virtual artwork” that express the original expression of the creator. As such, they should be treated with all relevant intellectual property rights.
In a statement, the court said:
“It’s a unique digital asset formed on the blockchain, based on the trust and consensus mechanism among the blockchain nodes. Therefore, NFT digital collections belong to the virtual property category.”
Atlanta Braves Host a Metaverse Baseball Event
The Atlanta Braves are making waves as the first Major League Baseball team to enter the metaverse. The team unveiled “Digital Truist Park” this week. The park is a photo-realistic digital replica of Truist Park.
Atlanta Braves’ virtual platform is powered by Unreal Engine technology from Epic Games. The unique experience gives fans the ability to experience Truist Park and The Battery Atlanta in a multiplayer environment they can stream directly from their browsers
That’s all for this week my friends. Come back next Friday for the biggest NFT news stories in the week ahead.