Sports company Fanatics to sell stake in NFT firm Candy Digital

The sports collectible company Fanatics is divesting its stake in the NFT firm Candy Digital, according to reports from CNBC on Jan. 4.

Candy Digital was founded in 2021 and has produced collections of NFTs for various sports leagues and groups including MLB, WWE, and NASCAR. It also branched out to produce crypto-collectibles for Netflix’s “Stranger Things” franchise in July 2021.

Until now, Fanatics acted as one of Candy Digital’s founding shareholders. It held a majority 60% stake in the company. Now, those shares will be sold to an investor group headed by Mike Novogratz’s crypto merchant bank, Galaxy Digital — which also acts as Candy Digital’s other founding shareholder.

(By Mike Dalton)

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