Build-A-Bear Enters web3 With Some Sweet Bears
Sweet is thrilled to partner with Build-A-Bear Workshop, Inc. to launch their first-ever NFT collection to help celebrate the brand’s 25th Anniversary and mark its entrance into web3. Since its founding in 1997, Build-A-Bear has been empowering kids of all ages to express themselves creatively by providing a safe space where they can create unique designs for their own furry friends. Build-A-Bear is the leading company offering a hands-on, Make-Your-Own furry friend retail experience, with more than 160 million furry friends having been created worldwide.
Build-A-Bear’s NFT collection will consist of three phases. It will commence with the release of a Limited Edition Build-A-Bear 25th Celebration NFT Collectible Featuring Swarovski® crystals. An auction will be held for the digital collectible starting Tuesday, October 4 at 12PM ET and run through Thursday, October 6 at 7 PM ET. The auction winner will also receive the physical encrusted bear collectible — with only one such bear produced, this is an extremely rare digital and physical collectible combination. In addition to the paired collectibles, the auction winner will get a complimentary trip for two to Build-A-Bear’s 25th Anniversary Gala on October 22nd at their headquarters in St. Louis. The winner will be presented with their physical collectible in person at the gala. With a starting price of $2,500, the auction will be made accessible at: buildabear.com/nft
In November, the second phase of the inaugural Build-A-Bear NFT collection will commence with another 48-hour auction that will feature five unique designs for five one-of-one Silver-themed Bear digital collectibles. As with the Bear NFT with Swarovski® crystals, the Silver-themed Bear NFTs will also be accompanied by a matching physical plush bear that is inspired by its respective NFT design.
Then, in December — the third phase will launch during which people will be able to purchase one of 5,000 Build-A-Bear generative NFTs at a fixed price. Each of these NFTs will have unique, randomly generated features, traits, and rarity tiers. These generative digital collectibles will complete Build-A-Bear’s inaugural NFT collection.
Ten percent of the sale price (in USD) for the first sale of the Limited Edition Build-A-Bear 25th Celebration NFT Featuring Swarovski® Crystals will be donated to the Build-A-Bear Foundation, the philanthropic entity for Build-A-Bear Workshop. The Build-A-Bear Foundation’s mission is to inspire creativity by donating reading materials and building a more equitable world through children’s literacy, to share hugs by distributing furry friends to children in need of comfort, and to support those in need by funding services that empower people to overcome serious challenges. Since its founding in 2004, the foundation has contributed more than $22 million and 1.5 million furry friends to charitable organizations around the world.
The Build-A-Bear NFT collection will be minted on the carbon-neutral Polygon blockchain. Polygon aims to make Ethereum accessible to all cryptocurrency users with a decentralized scaling platform that enables developers to build scalable, user-friendly decentralized apps (dApps) with low transaction fees, while not ever sacrificing security.
In many ways, the Build-A-Bear brand is a seamless fit within the NFT space. Millions of kids have been able to build lasting memories with their experience of creating a unique furry friend. Ultimately, building these types of lasting memories is a big part of what the NFT space is all about and it is a big part of our mission here at Sweet. We are also very happy to see another one of our projects have a charitable component that gives back to the community.