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    Innovation

    Fanatics’ NFT Platform Valued at $1.5B

    • Candy Digital completed a $100 million Series A funding round on Thursday.
    • The round values the company at $1.5 billion.
    By
    Oct 21, 2021 | 04:35 pm
    Candy Digital/Design: Alex Brooks

    Candy Digital, an NFT platform owned by Fanatics, has completed a $100 million Series A funding round valuing the company at $1.5 billion.

    The round — co-led by Insight Partners and Softbank Vision Fund 2 — includes NFL Hall of Famer Peyton Manning and Connect Ventures, an investment partnership between Creative Artists Agency and VC firm New Enterprise Associates.

    Since its launch earlier this year, Candy Digital has wasted no time building its NFT ecosystem.

    • In June, the company secured a long-term NFT deal with Major League Baseball.
    • It’s released NFTs with college athletes including Georgia quarterback JT Daniels.
    • Last week, it announced a deal with NASCAR’s Race Team Alliance.

    Candy Digital will soon unveil its beta platform, along with a line of NFTs for the MLB playoffs and upcoming World Series.

    Fanatics is reportedly looking into acquiring a sportsbook, and its newly launched trading card company raised $350 million in September at a $10.4 billion valuation.

    The company expects sales to reach $3 billion this year.

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