Does fanatics own candy digital?

Effective immediately, Fanatics has divested our approximately 60% stake in Candy Digital. We have sold our interest in the NFT company to an investor group led by Galaxy Digital, the other original founding shareholder.

Who owns candy digital?

Michael Rubin’s sports platform company Fanatics is divesting its 60% stake in NFT company Candy Digital, according to an internal email obtained by CNBC. Fanatics, who previously held the majority share of Candy Digital, will be selling its interest to an investor group led by Galaxy Digital, the crypto merchant bank led by Mike Novogratz.

Is Candy digital a fungible NFT?

Fanatics declined to comment. Candy Digital was founded in June 2021 in the middle of the sports NFT boom, competing with companies like Dapper Labs in the digital sports collectible space. One of its first efforts came out of a multiyear licensing agreement with MLB to produce nonfungible tokens, which included an exclusive Lou Gehrig NFT.

Does fanatics have a merchandising business?

Sports e-commerce company Fanatics secured another funding round for one of its ventures on Thursday, as the firm wants to align more revenue outside of merchandising. Fanatics’ nonfungible token company Candy Digital lured $100 million in a Series A round and is now valued at $1.5 billion.