Build-A-Bear to reveal NFT collection and unique collectible bear encrusted with Swarovski crystals and red crystal heart
Build-A-Bear Workshop (NYSE: BBW), announced that it is entering the new Web3 realm with the release of its first non-fungible tokens (NFTs) which are unique, ownable and transferable digital items. Build-A-Bear’s offerings will include both digital and real-life collectibles. In partnership with NFT platform Sweet, the company will launch the first of three phases of this unique NFT collection as part of its ongoing 25th anniversary celebrations on Tuesday 4 October.
The offering starts with an auction of the first NFT with a Limited Edition Build-A-Bear 25th Celebration NFT Collectible Featuring Swarovski® Crystals. Along with this NFT, the auction winner will receive a physical teddy bear* – with only one produced – making this an extremely rare digital and physical collectible. The winner will also receive a free trip for two to Build-A-Bear’s 25th Anniversary Gala on October 22 in St. Louis, where the company is headquartered**. The auction winner will be presented with the rare physical plush during the trip to the gala celebration. The auction will be available via BuildaBear.com/NFT with a starting price of $2,500. The auction starts on Tuesday 4 October at 12:00 PM ET and runs through Thursday, October 6 at 19:00 ET.
Sharon Price John, president and CEO of Build-A-Bear Workshop commented, “We are thrilled to enter Web3 as we celebrate our silver anniversary, which is not only a recognition of the achievements of the first 25 years, but a look ahead . to new breakthrough opportunities for our company. This announcement speaks to our future in a world that is increasingly about blending the physical with the digital. Every aspect of this multi-dimensional collection is designed to capture the appeal of our brand and the collectability of our furry friends. With our ongoing digital transformation, we’re bringing our brand into the metaverse, and we’re excited to partner with Sweet and Swarovski for this first offering.”
In honor of this groundbreaking NFT collection, 10% of the retail price (in USD) of the first sale of the Limited Edition Build-A-Bear 25th Celebration NFT with Swarovski® Crystals will be donated to the Build-A-Bear Foundation, the philanthropic entity for Build-A-Bear Workshop***. Since its founding in 2004, the Build-A-Bear Foundation has contributed more than $22 million and 1.5 million furry friends to charitable organizations worldwide.
One month after launching the one-of-a-kind Swarovski crystal encrusted bear NFT and plush, Build-A-Bear will offer a second NFT auction opportunity in November. At that time, bidders will compete to win five 1/1 Silver-themed Bear NFTs that will also be accompanied by a unique matching physical Build-A-Bear Plush Bear inspired by the NFT*.
The final phase of the Build-A-Bear and Sweet collaboration will begin in December. Instead of an auction, users can buy bear-themed generative NFTs. Each of these NFTs will have unique, randomly generated features, properties, and rarity levels.
The NFTs will be minted on the carbon neutral Polygon network.
“Sweet is proud to partner with Build-A-Bear to help them realize the vision of their first-ever NFT collection honoring this silver anniversary. With a large community of collectors across a wide demographic, we are excited to see Build “A-Bear fans will be introduced to Web3 and all it has to offer by collecting one of these Build-A-Bear NFTs, many of whom will be purchasing an NFT for the very first time,” said Tom Mizzone, Founder and CEO director of Sweet.
