Build-A-Bear Workshop (NYSE: BBW), announced it is entering the new Web3 realm with the release of its first non-fungible tokens (NFTs) which are unique, ownable and transferrable digital items. Build-A-Bear’s offering will feature both digital and real-life collectible components. 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 celebration on Tuesday, October 4.
The offering will kick off with an auction of the first NFT featuring 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 complimentary 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 the rare physical plush during their trip to the gala celebration. The auction will be accessible via BuildaBear.com/NFT with a starting price of $2,500. The auction will start Tuesday, October 4 at 12:00 PM ET and will run through Thursday, October 6 at 7:00 PM ET.
Sharon Price John, President and Chief Executive Officer of Build-A-Bear Workshop commented, “We are thrilled to enter Web3 as we celebrate our silver anniversary which is not only an acknowledgement of the accomplishments over our first 25 years, but a look ahead to new ground-breaking opportunities for our company. This announcement speaks to our future in a world that is increasingly about the physical blending 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 are bringing our brand into the metaverse, and we are pleased to collaborate with Sweet and Swarovski for this initial offering.”
In honor of this groundbreaking NFT collection, 10% of the sale price (in USD) of the first sale of the Limited Edition Build-A-Bear 25th Celebration NFT Featuring Swarovski® Crystals will be donated to Build-A-Bear Foundation, the philanthropic entity for Build-A-Bear Workshop. Since its founding in 2004, Build-A-Bear Foundation has contributed more than $22 million and 1.5 million furry friends to charitable organizations around the world.
A month after the launch of the only one-of-its-kind Collectible 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 commence in December. Instead of an auction, users can purchase bear-themed generative NFTs. Each of these NFTs will have unique, randomly generated features, traits, and rarity tiers.
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 huge community of collectors across a wide demographic, we’re excited to see Build-A-Bear fans introduced to Web3 and all that 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 at Sweet.