Galaxy Digital-Backed Candy Digital Launches; Inks Debut Deal With MLB

Galaxy Digital-Backed Candy Digital Launches; Inks Debut Deal With MLB

Candy Digital, a new sports non-fungible token (NFT) company, has been set up by Galaxy Digital and others with Major League Baseball (MLB) as its first partner.

  • 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 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.
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