Galaxy Digital-Backed Candy Digital Launches, Inks Debut Deal With MLB
Candy will build an MLB ecosystem to buy, trade and share officially licensed baseball content NFTs.
Candy Digital, a new sports non-fungible token (NFT) company backed by some heavy hitters including Galaxy Digital, has teamed with Major League Baseball (MLB).
- Candy will build an MLB ecosystem to buy, trade and share officially licensed baseball content NFTs.
- Galaxy Digital set up Candy Digital with entrepreneur Gary Vaynerchuk and sports merchandiser Fanatics, which will be the majority owner, according to an announcement Tuesday.
- The first NFT launched will be of Lou Gehrig's "Luckiest Man" speech, delivered July 4, 1939, at Yankee Stadium in New York after the Hall of Fame first baseman's forced retirement due to being diagnosed with ALS.
- Michael Rubin, chairman of Fanatics, and Mike Novogratz, founder of Galaxy Digital, will co-chair Candy with Vaynerchuk also serving on the board.
- Sports NFTs have enjoyed massive popularity in recent months, with NBA Top Shot announcing last week it had passed $700 million in total sales in less than a year.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.