New company is entering the NFT space with three of the world’s most innovative companies across sports, e-commerce, technology, collectables and cryptocurrency.
Candy Digital – a next generation digital collectable company – is entering the NFT (non-fungible token) space with three of the world’s most innovative companies across sports, e-commerce, technology, collectables and cryptocurrency, along with an exclusive long-term agreement with its first content partner Major League Baseball.
Candy Digital is being launched by three titans of their respective industries who bring unique expertise and skill sets for scaling businesses within the digitally native world – Michael Rubin, executive chairman, Fanatics; Mike Novogratz, founder and ceo, Galaxy Digital; and Gary Vaynerchuk, serial entrepreneur and investor.
Fanatics – which specialises in licensed sports merchandise and memorabilia – will introduce its 80+ million consumers to a new way of enjoying their favourite teams, players and sports moments. Meanwhile, Galaxy Digital will provide its knowledge of the digital asset, cryptocurrency and blockchain technology space, while Gary will lend his digital, social media and collectables experience to the company.
Fanatics will be the majority owner of Candy Digital.
The company is currently building MLB’s official NFT ecosystem, where fans and collectors will be able to purchase, trade and share officially licensed NFTs.
Candy and MLB’s first release will be a 1-of-1 NFT of Lou Gehrig’s famous ‘Luckiest Man’ speech that he delivered on 4 July, 1939, after being diagnosed with ALS. The NFT will commemorate the league’s first official Lou Gehrig Day (which took place on 2 June) to raise awareness and funds to fight ALS, which is also called Lou Gehrig’s Disease. Proceeds from the sale of the NFT, which is scheduled to be released 4 July weekend, will support ALS charities.
“NFTs are fundamentally changing how we think about owning cultural artifacts,” commented Mike Novogratz, founder and ceo of Galaxy Digital and co-chair of Candy Digital. “We’re in the very early stages of this transformation and Candy’s focus on creativity, community and authenticity will all play a key role in its success in defining this new market.”
Candy has ambitious plans for expansion in the digital asset marketplace and anticipates the announcement of additional partners and products in the coming weeks.