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Pre-Redeemable NFTs


Collect9 - our brand, begins in celebration of Ty Inc's Original 9 Beanie BabiesTM released to the public nearly 3 deacades ago. Of much too much historical signifigance to ever forget, they are what we can now reminice as the boomer generation's NFT craze of the '90s!

The pre-redeemable NFTs offer the potential to lock in certified ownership and possession rights to individually identifiable authenticated mint-condition rare vintage true Original 9 Beanie Babies with the rarest production pre-1st generation hang tag. It's speculated that only about 5 completed mint-condition pre-1st generation remain today, and we've got one of them here!

Collect9 fully on-chain SVG Ethereum NFT #078083

#1 of 9: Chocolate

The retail of Beanie BabiesTM began with the Original 9: Chocolate, Cubbie, Flash, Legs, Patti, Pinchers, Splash, Spot and Squealer. The Original 9 made their debut in the US in late 1993 and the UK in 1994. Ty Inc had to create a special placeholder tag for its first UK shipments that soon became known as the pre-1st generation hang tag. It is unmistakable in appearance as its plain-text white rectangular template is unlike the traditional red heart-shaped tags found on all following generations.

#2 of 9: Cubbie

It's speculated that the pre-1st generation hang tags were only on UK shelves for one month in early 1994. They were quickly replaced by the same 1st generation hang tags found on US retail shelves - but with the addition of “UK stickers” that had the European required CE mark on them. And so, with this information in mind, we can begin to speculate how rare pre-1st generation Beanie Babies are, at least relative to others of value. So go ahead let’s go ahead speculate!

Collect9 fully on-chain SVG Ethereum NFT #078081
Collect9 fully on-chain SVG Ethereum NFT #0894114

#3 of 9: Flash

The US and UK markets combined for about 12 months of retail sales through 1994. At most, two of those months were the pre-1st generation in the UK. If we assume Beanies Babies were sold at a relatively constant rate in both countries, pre-1sts have a time rarity factor of 2/10, or 5x rarer than the 1st generation. This is likely conservative as we’re ignoring holiday sales, of which the pre-1st generation did not overlap any. So, to begin on a conservative note: 5x rarity factor over the 1st generation.

#4 of 9: Legs

Looking at census figures in 1994 shows the US had about five times the population of the UK. We can assume population is the only factor if spending habits between the two countries are similar. This is conservative since US population had a higher purchasing power parity. We'll account for that in a little bit, but to keep is simple for now: 5x population = 5x rarity factor. Combined with the prior time rarity factor of 5x, we’re now up to 5x*5x=25x cumulative rarity factor over the 1st generation.

Collect9 fully on-chain SVG Ethereum NFT #0894298
Collect9 fully on-chain SVG Ethereum NFT #078101

#5 of 9: Patti

It’s unlikely that Ty Inc produced Beanie Babies at the same rate per capita for its UK consumers as it did for its US customers. In 1994, purchasing power parity of the UK was about 75% that of the US. We also must consider this was a time before the mainstream internet, social media and thus rapid exchange of information in general. And so, what was Ty Inc more likely to focus on? A richer domestic market that it had closer (and cheaper) public relations with, or a distant overseas market?

#6 of 9: Pinchers

Assuming greater focus on the domestic (US) market, we can only guess that Ty Inc may produced Beanie Babies at a rate of 1/2 to 1/4 (per capita) for its international UK market. And so that gives us an international rarity factor of 2x-4x. Combining this with the prior cumulative rarity factor, 25x*[2x-4x]=50x-100x rarity factor over their 1st generation counterparts. Since we are guessing, we'll again be conservative and go with the lower bound or: 50x cumulative rarity factor over the 1st generation.

Collect9 fully on-chain SVG Ethereum NFT #078084
Collect9 fully on-chain SVG Ethereum NFT #078077

#7 of 9: Splash

The pre-1st generation plain-text white rectangular hang tags are far more delicate than the thicker and thus mechanically stronger 1st generation hang tags. So, it’s likely that not only were fewer pre-1st tags successfully preserved (in mint-condition) after nearly 3 decades, but even sold in mint condition at the time of retail. Unfortunately there's no way to put a number of this figure right now. But it's absolutely an effect, so we'll just have to guess.

#8 of 9: Spot

Let’s speculate the pre-1st tags are twice as likely to be creased or somehow damaged versus the stronger 1st generation tags. We’ll call this the mechanical rarity factor and its value is 2x. Combining this with the prior and already conservative rarity factor: 50x*2x=100x cumulative rarity factor over the 1st generation. We're going to stop here as additional parameters are going to continue to increase this number, as there's really no evidence for higher production or sales for the UK market.

Collect9 fully on-chain SVG Ethereum NFT #078079
Collect9 fully on-chain SVG Ethereum NFT #078082

#9 of 9: Squealer

What does this mean in absolute numbers? Unfortunately no one but Ty Inc knows exactly how many were sold. All we know is that in the past year only one pre-1st went up for sale on Ebay and other markets, compared to ~15-30 1st generation. Just one, of an entire set of nine. You're more likely to run into a six figure PSA10 card, than of one of these historical icons. Luckily, we have one of a theorized only handful of remaining completed mint-condition sets, available here for you!

Why Pre-Redeemable?

In the world of blockchain where no good bug goes unpunished, it will take time to build, test and deploy the smart contact powered platform that will enable Collect9 NFT owners to redeem their NFTs authenticating ownership and posession rights to uniquely identifiable physical collectibles.

By releasing NFTs that are not yet functionally redeemable, but will be exchangeable for launch NFTs that are redeemable, users can get a head start on locking in NFT authenticated ownership and possession rights of uniquely identifiable physical collectibles.

When ready, Collect9 will deploy the smart contract powered platform that faciliates the exchange of pre-release NFTs for their functionally redeemable equivalents. And NFT owners who meet redemption requirements will have the ability to redeem their NFTs!