Build-A-Bear, the American retailer headquartered in Saint Louis, Missouri that sells teddy bears and other stuffed animals, has announced its entry into Web3 with a non-fungible token (NFT) series.
In celebration of its 25th anniversary, the company collaborated with NFT marketplace Sweet to release three NFT drops, featuring both physical and digital elements. The first drop will debut on Tuesday, October 4.
First to drop will be a limited edition Build-A-Bear 25th Celebration NFT collectible with Swarovski crystals. In addition to the NFT, minted on the carbon-neutral Polygon network, the auction winner will also receive a physical teddy bear.
Buildabear.com/nft will host the auction, with a starting price of $2,500. The auction will begin on Tuesday, October 4 at 12 p.m. ET and run until Thursday, October 6 at 7:00 p.m. ET.
In November, Build-A-Bear will offer a second NFT auction. Bidders will have the opportunity to win five 1/1 Silver Bear NFTs, along with a matching Build-A-Bear Plush Bear.
The last NFT drop will take place in December. Instead of an auction for this drop, users will be able to buy bear-themed generative NFTs. These NFTs will have their own set of randomly generated traits, qualities, and rarity tiers.