Jun 1, 2021 - Economy

Fanatics-backed NFT company launches with MLB deal

Kia Kokalitcheva

A baseball glove with a ball in it — Illustration: Rebecca Zisser/Axios

Fanatics, Galaxy Digital, and Gary Vaynerchuk have set up and invested in Candy Digital, a new company focused on sports-related non-fungible tokens (NFTs), with a debut deal with Major League Baseball.

Why it matters: NFTs saw an explosion in mainstream popularity in recent months thanks to a new twist on sports trading cards popularized by Dapper Labs' NBA Top Shots digital collectibles of basketball content.

Details: The first token that will be sold will pay tribute to the New York Yankees' Lou Gehrig.

Fanatics founder Michael Rubin and Galaxy Digital founder Mike Novogratz will co-chair the company, with Vaynerchuk also serving on the board.
The company declined to disclose how much it has raised and any minor shareholders.

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Fanatics-backed NFT company launches with MLB deal

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