In Partnership with Sweet, Build-A-Bear enters Web3 with its
first collection of digital bears and commemorative
plush bears to celebrate its 25th Anniversary
ST.
LOUIS, Sept. 28, 2022 /PRNewswire/ --
Build-A-Bear Workshop, Inc. (NYSE: BBW), today, 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.
About Build-A-Bear®
Build-A-Bear is a
multi-generational global brand focused on its mission to "add a
little more heart to life" appealing to a wide array of consumer
groups who enjoy the personal expression in making their own "furry
friends" to celebrate and commemorate life moments. Nearly 500
interactive brick-and-mortar retail locations operated through a
variety of formats provide guests of all ages a hands-on
entertaining experience, which often fosters a lasting and
emotional brand connection. The company also offers engaging
e-commerce/digital purchasing experiences
on buildabear.com including its online "Bear-Builder",
the animated "Bear Builder 3D Workshop" and its age-gated
adult-focused "Bear Cave". In addition, extending its brand power
beyond retail, Build-A-Bear Entertainment, a subsidiary of
Build-A-Bear Workshop, Inc., is dedicated to creating engaging
content for kids and adults that fulfills the company's mission,
while the company also offers products at wholesale and in
non-plush consumer categories via licensing agreements with leading
manufacturers. Build-A-Bear Workshop, Inc. posted total revenue of
$411.5 million in fiscal 2021. For
more information, visit the Investor Relations
section of buildabear.com
ABOUT SWEET
New
York-based Sweet is a highly flexible, Non-Fungible Token
(NFT) platform and marketplace used by top creators, sports,
entertainment, and consumer brands worldwide. Sweet delivers
immersive NFT programs driving revenue, consumer engagement, and
gamified experiences reaching both sophisticated and novice NFT
collectors in ways never before possible. For more information,
please visit: https://sweet.io/
*Physical bear offer valid only for the first purchaser of the
NFT from Build-A-Bear Workshop. Subsequent purchasers of the
NFT are ineligible. Physical bears may not be an exact
replica of the digital collectible. If the NFT owner (i) does not
respond to any communication from Build-A-Bear within five (5) days
of such communication; (ii) refuses the physical bear offer; and/or
(iii) any communication to the NFT owner regarding the physical
bear offer is rejected or returned as undeliverable, the physical
bear offer is void.
** Offer valid only for the first purchaser of the NFT from
Build-A-Bear Workshop. Subsequent purchasers of the NFT are
ineligible. Gala Trip Offer is valid only within the
continental United States and
includes: One (1) night's hotel accommodations (one (1)
standard double occupancy room) at a hotel selected by
Build-A-Bear; Round trip coach class airfare for up to two
(2) individuals within the continental United States (from a major getaway airport
closest to the NFT owner's home in the continental United States to/from St. Louis, MO); and two (2) tickets to the
Build-A-Bear Workshop Silver Celebration Gala. All other expenses
not stated herein as part of the trip offer are the NFT owner's
sole responsibility. Except where prohibited by law, NFT
owner and guest may be required to execute a liability and
publicity release as a condition of receiving the Gala Trip
Offer. Offer excludes all other expenses or incidentals
including, but not limited to, ground transportation, food (except
during the Silver Celebration Gala), baggage fees, alcoholic
beverages, gratuities and tips, insurance, laundry service,
merchandise, parking, room service, service charges, souvenirs and
telephone calls. NFT owner and guest must possess and are
responsible for obtaining and must have valid ID or other required
documentation for travel. All guests must be 18 years of age
or older at time of travel unless guest is a child or legal ward of
the NFT owner. NFT owner and guest are responsible for obtaining
any travel insurance (and all other forms of insurance) that they
may wish to obtain at their own expense and hereby acknowledges
that Build-A-Bear has not and will not obtain or provide travel
insurance or any other form of insurance. NFT owner and guest
are bound by the terms and conditions of all airlines, hotels and
other third-party service providers. NFT owner and guest must be
available to travel on the dates specified by Build-A-Bear
(currently planned for October 22 –
23, 2022) or trip offer is void. If the NFT owner (i) does not
respond to any communication from Build-A-Bear within five (5) days
of such communication; (ii) refuses the trip offer; and/or (iii)
any communication to the NFT owner regarding the offer is rejected
or returned as undeliverable, the Gala Trip Offer is void. By
accepting the Gala Trip Offer, NFT owner agrees to release,
indemnify, defend and hold harmless Build-A-Bear Workshop, Inc.,
Build-A-Bear Foundation and each of their respective promotional
partners, agencies, parents, affiliates, subsidiaries, and each of
their respective agents, representatives, officers, directors,
franchisees, shareholders and employees from and against any
injuries, losses, damages, claims, actions and any liability of any
kind resulting from or arising from participation in the Gala Trip
Offer (including any travel or travel-related activity
thereto).
****Beginning on October 4th at
12PM Eastern Time through
October 6th at 7PM Eastern Time, 10% of the sale price of
the United States first sale of
the Limited Edition Build-A-Bear 25th Celebration NFT Featuring
Swarovski® crystals will be donated to Build-A-Bear Foundation,
Inc., 415 South 18th Street, St. Louis,
MO 63103.314-423-8000. Maximum Donation: $10,000. Not valid for first sales that
occur outside the United States or
where prohibited by law.
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SOURCE Build-A-Bear Workshop