Sweet Partners with Build-A-Bear for Latest One-of-One Digital x Real-Life Collectible Opportunity

Rhea-AI Summary

Sweet has announced a new collaboration with Build-A-Bear Workshop (NYSE: BBW) to auction five unique digital collectible NFTs starting November 15. Each NFT features Silver Gala-themed bears and comes with a physical plush counterpart. The auction runs from November 15 to 17, and 10% of sales will benefit the Build-A-Bear Foundation, which has donated over $22 million to charities since 2004. Auction winners will also receive a personalized brick at the Foundation's Plaza and a private party at a Build-A-Bear Workshop.

Positive

• Launch of five unique NFTs expanding collectible offerings.
• 10% of NFT sales will support the Build-A-Bear Foundation.

Negative

• No significant financial performance metrics provided.

Five one-of-a-kind collectibles drop for bidders on November 15

NEW YORK, Nov. 10, 2022 Sweet announced today that its latest collaboration with Build-A-Bear Workshop, Inc. (NYSE: BBW), will drop five new, one-of-one digital collectible NFTs for auction. As in the October collectible event, each of the five non-fungible tokens are unique, ownable and transferrable digital items for collectibles featuring Silver Gala-themed bears. The NFTs will live digitally in the owner's Sweet wallet. The winner of each NFT will receive a one-of-one real plush inspired by the digital bear and accompanying utlities.* Powered by Sweet, each NFT will be minted on the carbon-neutral Polygon blockchain.

The auction will be live for bids on the five distinct Silver Gala Bear NFTs from November 15 at 12:00 PM ET and will run through November 17 at 7:00 PM ET, and 10% of the sale price (in USD) will benefit 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.

In addition to the real-life collectible, auction winners will receive a brick in their name on the Build-A-Bear Foundation's Plaza in St. Louis, Missouri, a private party at a Build-A-Bear Workshop location for five people, and a virtual sneak peek at Build-A-Bear's Spring fashion line.*****

"With the launch of our first digital collectible last month, we have had the opportunity to connect our brand with our consumers in a new way, and we are excited to have a second offering that continues to blend our beloved physical bears with equally adorable bears in a digital space," said Jenn Kretchmar, Chief Digital and Merchandising Officer. "We want to provide opportunities to expand our collectability options to our guests, and our presence in Web3 provides an entirely new experience for our brand."

"We are honored to be a part of Build-A-Bear's latest collectible drop. On the heels of the last NFT's record sale, we look forward to seeing who jumps into the bidding to help celebrate this groundbreaking collection," said Tom Mizzone, CEO of Sweet.

Meet Queen of Hearts Bear DJ Bear, Silver Glam Bear, BEARoque Bear and  Designer Bear,  now on the auction site at sweet.io/buildabear.

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/

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             

*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.

 ****Beginning on November 15 at 12PM Eastern Time through November 17 at 7PM Eastern Time , 10% of the sale price of the United States first sale of the Designer NFT Build-A-Bear, DJ NFT Build-A-Bear, Queen of Hearts NFT Build-A-Bear, Silver Glam NFT Build-A-Bear and BEARoque NFT Build-A-Bear, will be donated to  Build-A-Bear Foundation, Inc., 415 South 18th Street, St. Louis, MO 63103.314-423-8000. Maximum Total Donation: $10,000.  Not valid for first sales that occur outside the United States or where prohibited by law.

***** Offer valid only for the first purchaser of the NFT from Build-A-Bear Workshop.  Subsequent purchasers of the NFT are ineligible.   All elements of offer must be redeemed on or before March 31, 2023.  Notwithstanding the foregoing, Build-A-Bear reserves the right to change date of offer element redemption.  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 offer; and/or (iii) any communication to the NFT owner regarding the offer is rejected or returned as undeliverable, the offer is void.  Brick content subject to approval by Build-A-Bear.  Private Build-A-Bear store party is for up to five (5) individuals and includes: one (1) furry friend for each guest (value up to $36), one (1) clothing item, one (1) footwear item, one (1) sound, and one (1) bear carrier.  All other expenses not stated herein as part of the party are the NFT owner's sole responsibility.  Party offer is subject to mall and/or store location hours restrictions.  Party offer excludes all other expenses or incidentals including, but not limited to, transportation, accommodations, food, beverages and parking.  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.  Party will occur on a date and at a store location mutually agreed upon by NFT owner and Build-A-Bear. Virtual sneak peek will occur via Microsoft Teams on a date mutually agreed upon by NFT owner and Build-A-Bear on or before January 31, 2023.  NFT owner is solely responsible for all resources required to participate in the virtual sneak peek, including, without limitation, cameras, viewing devices and internet access.  By accepting 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 offer (including any travel or travel-related activity thereto).

Photo: https://mma.prnewswire.com/media/1944003/5_one_of_a_kind_bears.jpg 

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SOURCE Sweet.io

FAQ

When will the Build-A-Bear NFT auction start?

The auction will start on November 15 at 12:00 PM ET.

How long will the Build-A-Bear NFT auction last?

The auction will run until November 17 at 7:00 PM ET.

What percentage of sales goes to the Build-A-Bear Foundation?

10% of the sale price will benefit the Build-A-Bear Foundation.

What are the unique features of the NFTs being auctioned?

Each NFT is a one-of-one digital collectible featuring Silver Gala-themed bears.

What additional benefits do auction winners receive?

Winners will receive a real plush bear, a personalized brick at the Foundation's Plaza, a private party, and a virtual sneak peek of the Spring fashion line.