tw3c #13: Starbucks Odyssey stops distributing NFTs, top 50 other holdings & Crossmint

Welcome and GM to The Web3 CRM Brief - or short, tw3c. 

tw3c is the number one web3 CRM newsletter for marketers, growth and project managers who scale web3 communities. In this newsletter, I'll share the most interesting stories about

👋 community engagement📊 on-chain wallet data & analytics⛓ tool tipsand actionable best practices to make the most of your web3 communities!

👋 One Best Practice: Starbucks Odyssey Stops Distributing NFTs

... but instead distributes stamps.

Don't worry! Starbucks isn't cancelling their web3 loyalty efforts.

Instead, they're leading the first major wave of accessibility by erasing more of the web3 lingo to increase accessibility and lower the barrier to entry for consumers by using accessible language instead of technical terms.

Absolutely worth taking a closer look as the best practice of the week:

A look at the Starbucks Odyssey Nifty Gateway collection page shows that Starbucks doesn't use the term NFT anywhere. Instead, they call them Journey Stamps.

These stamps are NFTs by nature, but Starbucks is just using the technology as the underlying IT infrastructure without putting it front and center, making it easier for people to understand and engage with these types of digital assets.

📊 One Metric To Consider This Week: Top 50 Other Holdings

Starbucks has gone to great lengths to market both the launch of its web3 loyalty program and its benefits to ensure that existing and new members understand its added values and get the most out of it.

Thus, if you're looking to inform your marketing growth and communications strategies, a metric to consider could be Top 50 Other Holdings.

The Top 50 Other Holdings identifies the wallet addresses within your existing community that hold the most NFTs. By analyzing which other NFT collections are among the top 50 holdings of your community members, you can gain useful insights into the interests and values of your community.

The insights gained can be useful in developing marketing plans or exploring potential partnerships or collaborations that can help expand the loyal customer base.

⛓ One Tool To Look At This Week: Crossmint

Accessibility in the sense of inclusive language and communication is one side of the coin. The other side is technical accessibility.

What do the following terms tell you? Oracles, zero-knowledge proof, decentralized identifiers (DID), contextual masks, Solidity. Nothing?

Good. Because in order to leverage NFTs as part of our customer engagement strategies, we're slowly but surely getting to a point where no-code tools and easy-to-integrate APIs are doing the work for us without the need to deep dive into the different technical concepts.

One such tool that makes the use of tokens more accessible to businesses, even if you know nothing about crypto, is Crossmint - this week's tool recommendation.

✅ Create, edit, burn and airdrop NFTs to email and wallet addresses via the Minting API✅ Credit card and cross-chain payments✅ User-friendly wallets✅ No crypto required

Their latest feature release got me really excited because it addresses an aspect that bothered me right from the beginning: If we tokenize a lot of our digital assets and store everything on blockchains, which are inherently immutable, what happens to this huge amount of on-chain data?

Crossmint introduced Compressed NFT APIs in collaboration with Solana Labs, Metaplex Studios and Helius last week that address the storage of NFTs. Compressed NFTs are the newest NFT standard on Solana, improving scalability and lowering the cost to store NFTs on-chain aiming at condensing the metadata of millions into a tiny and secure cryptographic proof on-chain, slashing minting costs by over 99%.

This NFT standard could provide a solution to aspects like scalability, cost-savings and environmental impact for a lot of use cases in areas such as digital art, gaming and metaverse experiences.

Kudos to Rodri & team for building this :)

Thanks for reading! How did you like this edition? Don't hesitate to reach out with any feedback by responding to this email.

Until next week,Lea

P.S.: What to read next today? 👇