Starbucks's Odyssey program, an extension of Starbucks Rewards that seeks to expand brand loyalty in the virtual world, is seeing encouraging signs of early success, Bank of America said. 

The coffee company, which launched a beta test of Odyssey in December, allows members to participate in interactive journeys like games and virtual tours related to coffee education and Starbucks history and earn Odyssey Points that can be exchanged for rewards or Journey Stamp NFTs that can be collected and traded.

Starbucks's approach to web3 is "more holistic than the industry’s prior NFT forays," the analysts said.