Highstreet Partners with BuerBear for New Phygital Art Toy — McBear!
In times of turbulence, we often think about when things were easier, more carefree, and simpler. For many people, those words encapsulate our childhood, and for millions of people around the world, a symbol of our childhood was the Golden Arches.
They were around when our parents were growing up, and the tradition was passed down to us. Though we might mock them or make jokes at their expense, there was a time, at some point in your life, when it felt like nothing else mattered except the intoxicating crunch of hot fries and an ice-cold drink from everyone’s favorite fast food joint. McBear pays homage to this institution.
Here at Highstreet, we’re excited to announce our recent partnership with art toy design house BuerBear to bring a new product to collectors in the metaverse and physical world — McBear.
Through this collaboration, the Highstreet community and BuerBear fans will be able to purchase up to 200 $BEAR tokens on Highstreet’s StreetSmart™ bonding curve market mechanism on July 11, 2022. Each token will guarantee ownership of a limited edition BuerBear art toy — in both digital and physical form.
BuerBear is taking a visionary leap into web3 commerce by launching this drop. While having found success in the traditional art toy market, the automated price discovery system, StreetSmart™, offered through Highstreet, will allow BuerBear, buyers, and resellers to see real-time price evolution and capture the most value for their McBears.
Overview of Sale
Built on the Ethereum blockchain, each of the 200 $BEAR product tokens will give owners the option of redeeming a digital BuerBear NFT that offers additional utility within the Highstreet World Metaverse, along with a physical art toy. With a design created exclusively for Highstreet, each bear will lead to a different story about the themes most relevant to Gen-Z. Users will get the same luxury craftsmanship with the edge and cultural relevance that the brand has maintained since day one.
During the sale, the $BEAR tokens are first come, first served, until all 200 tokens are purchased. However, because the sale uses a bonding curve, the quantity of $BEAR tokens that are available for sale decreases as tokens are bought and increases as the unredeemed tokens are sold back to the curve. The bonding curve offers healthy liquidity and price discovery with full transparency.
Utilities of McBear in Highstreet World
- McBear token holders (not yet redeemed) will be eligible to receive a digital McBear that can serve as interactive decor for holders in their Highstreet home. （Shipment and redeem function will be immediately available on July 11th whereas Decor will be available on the coming week after our new build has been deployed.）
- Owners who have redeemed the $BEAR token to receive their phygital drops will be eligible for a mystery airdrop that will take place when 100 total tokens have been redeemed for digital NFT and physical McBears.
- McBear utility will continue to evolve and unfurl new features as its relationship with the community evolves.
How to Purchase
The $BEAR token that gives users access to the McBear phygital drop can only be bought and sold on Highstreet Market’s StreetSmart™ bonding curve. Visit highstreet.market on July 11, at 16:00 UTC, to be directed to the McBear drop, where you can make your purchase using $HIGH tokens (ERC-20). The starting price of $BEAR will be 69 $HIGH tokens excluding fee. If you are racing to get the first available $BEAR be sure to hold enough ETH in your wallet to cover any gas fee induced by the blockchain. Higher slippage also grants a higher chance of your purchase being successful during the beginning of our sale since there could be many of our fans purchasing at the same time.
How to Redeem
The $BEAR token can be redeemed (“burned”) to enable the delivery of the physical McBear to the user’s address and unlock exclusive redeemable assets for use in Highstreet World.
Burning your $BEAR token is an irreversible process. Redemption will involve obtaining a customer’s shipping address because a physical item will be sent to the user’s stated address.
Note: If you buy a $BEAR token and then sell it without redeeming the digital + physical bear, you will NOT be eligible for the mystery airdrop. Only those who buy and then redeem (burn) the token are eligible.
Regarding the partnership, Jenny Guo, Co-Founder of Highstreet, said, “As Highstreet develops a diverse set of partnerships to reach new users, we found no better partner to capture the spirit of the times and bring the Highstreet community together than BuerBear. We are excited to bring their first phygital bears to the Highstreet World Metaverse while also breathing life into the art toy and urban fashion sectors.”
About BuerBear
BuerBear is an art toy design house founded in 2017 that aims to create the anti-teddy bear. BuerBear brings edge and perspective to the classic toy bear, transforming it into a canvas to represent the themes most relevant to Gen-Z. BuerBears can be found across the globe with several successful collaborations with iconic brands such as Mercedes-Benz, SneakerCon, Volcom, Inter Milan, and Gaudí Galley.
About Highstreet
Highstreet World is an MMORPG built with brand integration and on-chain features. Throughout 2022, Highstreet will be delivering the game to players in four phases. As part of the first phase, where the focus is on real estate, Highstreet will allow players to purchase homes in the core regions of Binance Beach, AVAX Alps, Animoca Archipelago, and Highstreet City. The first move-in day for Highstreet’s Solarium was organized in April 2022.
