Today Candy Digital said it completed a $100 million Series A investment at a $1.5 billion valuation. The firm was founded earlier this year as a non-fungible token (NFT) joint venture between sports ecommerce firm Fanatics, Galaxy Digital and Gary Vaynerchuk, with Fanatics holding the majority share. Since then, it has signed an NFT deal with Major League Baseball (MLB).
The funding round was co-led by Insight Partners and Softbank Vision Fund 2, with participation from Connect Ventures, the joint venture between sports agency CAA and New Enterprise Ventures. There were several other backers, including current and retired athletes such a Peyton Manning.
“Blockchain and NFTs provide tremendous opportunities to enhance the fan experience by allowing people to own a piece of their passion,” said Scott Lawin, CEO of Candy Digital. “We’re thrilled to continue partnering with the leading sports leagues around the world to engage fans through the next generation of sports collectibles as we create the future of fandom together.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
