Revealing Pumpkin Spice’s True Nature: Halloween 2023’s Spectacular Journey into the Unknown

Key Takeaways:
Still confused about Pumpkin Spice? Keep reading to find out what it’s all about.
The Starbucks Corporation sales were not affected by its “violent history.”
PSL NFTs are not selling as well as the popular drink.


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YEREVAN (CoinChapter.com) — Halloween 2023 arrived with a bang, with a record-breaking $12 billion spent on all things sweet, spooky, and everything in between. And of course, Starbucks took advantage of the occasion by promoting its Pumpkin Spice Latte for the 20th year in a row.
In fact, the company even launched a commemorative NFT-based “experience” with the same name in late 2022 to celebrate the anniversary of this delightfully disgusting drink.
But before we delve into the collection, let’s first understand what all the hype is about. What exactly goes into this “fall’s favorite spice mix”?
Pumpkin Spice made quite an impact in 2023
For those who are unaware, Pumpkin Spice Latte is a coffee beverage that consists of steamed milk, espresso, and often sugar, topped with whipped cream and pumpkin spice, the star ingredient. Pumpkin Spice, a popular blend in the US, primarily comprises nutmeg, cinnamon, ginger, and clove, offering your taste buds that quintessential “fall” sensation every year without fail. However, prior to Halloween 2023, the Washington Post published an article discussing the “violent history” of pumpkin spice, which caught the attention of millennials, Starbucks’ primary consumer demographic.


Sales of Pumpkin Spice Latte in 2022 surpassed previous years. Source: Statista.com
The story fails to impact Starbucks consumers
The article explored the Dutch invasion of the Banda Islands in the early 1620s, which are now part of modern-day Indonesia. Thousands of lives were lost as Europeans sought the “medicinal properties” of nutmeg.
As tragic as this story may be, it is a challenge to find any food, particularly spices, that have not been touched by slavery, the displacement of indigenous peoples, or any other form of violence. Seriously.
Meanwhile, all the uproar had no effect on Starbucks’ sales whatsoever.
According to the Q3 fiscal 2023 results, global comparable store sales increased by 10%, primarily driven by a 5% increase in comparable transactions and a 4% increase in average tickets. The coffee giant opened 588 new stores in Q3, surpassing a global count of 37,000 stores and ending the period with 37,222 stores, with 51% being company-operated and 49% licensed.
Starbucks NFTs are selling worse than the actual Pumpkin Spice Latte
Now let’s fast forward to the NFT collection.
As mentioned earlier, Starbucks introduced a reward system called “Starbucks Odyssey” for fans of their sugar-free soy vanilla latte. This project offers various activities to earn collectible ‘Journey Stamps’ (NFTs) and Odyssey Points, which unlock additional “benefits and experiences.”
According to Forbes, the Odyssey has over 31 million members. In the spring, when the company offered test members the opportunity to purchase the stamps for $100 each instead of earning them through journeys, 2,000 NFTs were sold within minutes. Some were later resold on the secondary market for as much as $2,000.


PSL collection pieces. Source: niftygateways.com
However, as of October 31st, the Pumpkin Spice Latte collection NFTs on Nifty Gateway were selling for an average of $20 each in the previous 24 hours, despite the initial lofty claims.
Here’s how one user described the experience:
The Pumpkin Spice Latte NFTs are not selling nearly as well as the actual drink. But then again, what NFT can provide its owners with the delightful taste of Halloween?