What stands behind Starbucks' end of its NFT rewards program?

This program, which was designed to improve Starbucks users' loyalty system, has come to an end after only one year of implementation.

The reason for its closure has not been disclosed, but the press release states that it is "necessary to prepare for the next step in Web 3.0 development."

If we take this press release at face value, it could be interpreted as a trial run to allow time for preparation for the next project, or as it is a "beta program," the project itself was run as a trial run for a future project.

However, as Starbucks' Chief Marketing Officer Brady Brewer said, "It will revolutionize the Web 3.0 experience," this project must have been a big project for Starbucks when it first started. The fact that it ended in less than a year means that it was a virtual failure.

If you check the prices of NFTs related to this project, you can see that most of the Odyssey NFT lineup is in the red, so it is not difficult to imagine that this is the main reason for the project's closure.

Specifically, with the exception of the project's Siren series, all other series of NFTs are below their launch prices, with most dropping by more than 90%. This means that users who first purchased the Odyssey series NFTs are likely already in the red.

In addition, the floor price of NFTs that users can get for free by completing quests has also fallen to single digits. This does not cover the costs that users incurred to complete the quests initially. So what is the reason that most of the Odyssey NFT lineup is in the red?