Leading Digital Collectible Platform Candy Digital Announces Series A1 Fundraise
Investment Fuels Company’s Mission to Offer Digital Asset Services to Institutions and Brands Globally and Accelerates web3 Functionality
Investors include Galaxy, ConsenSys Mesh, ConsenSys and 10T Holdings.
NEW YORK, January 05, 2023--(BUSINESS WIRE)--Candy Digital, a next-generation digital collectible company, announced today that it has raised a Series A1 financing round led by Galaxy and ConsenSys Mesh, with participation from 10T Holdings and ConsenSys, among others. Terms of the fundraise weren’t disclosed.
Candy Digital, which launched in 2021 with the mission of deepening fandom through the development of digital collectibles and experiences, will continue to scale and expand its flagship digital products, including ICON trading cards, Tickets, and Highlights. Through a new partnership with ConsenSys Mesh and ConsenSys, both leaders in Ethereum blockchain technology and decentralized protocols, Candy will accelerate the growth of its platform, tooling, and experience capabilities with an emphasis on web3 functionality.
"The ability of Candy to deliver institutional-grade products and services to our sports, entertainment, and culture partners and customers is critical during periods of market volatility. Candy Digital remains committed to reimagining fandom in a web3 world and is excited to lead the charge into the next phase of the market’s evolution," said Scott Lawin, CEO of Candy Digital. "The current environment offers a strong opportunity to build, and we look forward to continuing to scale our platform, form new partnerships with leading brands and institutions, and deliver best-in-class digital products to our customers."
Candy Digital’s Series A1 funding follows a number of new partnerships that the company has formed, including Getty Images, Netflix, the Race Team Alliance, and the WWE. Earlier this year, Candy Digital expanded its existing partnership with Major League Baseball and the Major League Baseball Player Association with the addition of the National Baseball Hall of Fame and scaled its Candy Sweet Futures NFT series, the first NFT series that markets college athletes.
"Candy Digital has quickly established itself as a leading digital collectible NFT platform with a passionate customer base, advanced technological infrastructure, and strong partnership network that will enable the platform to continue to sustainably scale," said Mike Novogratz, Founder, and CEO of Galaxy. "We believe that the Candy team is well-positioned to capitalize on the rising demand for NFT products and expand into new industries and markets, and we look forward to continuing to support their success."
"The pioneering work that Candy Digital has done in bringing NFTs to mainstream culture through sports and entertainment, made it an easy decision to partner with them during this next phase of growth. As 2023 will be a breakout year for Web3, we believe that this collaboration will be a driving force in empowering creators, players, and fans to take control of their economic, expressive, and political agency in an increasingly decentralized community-centric global economy. Together with Candy, ConsenSys Mesh and ConsenSys will help shape the future of community-driven, Web3-enabled collectibles, events, and experiences", said Joseph Lubin, Founder and Chairman of ConsenSys Mesh and CEO of ConsenSys.
About Candy Digital
Candy Digital is a next-generation technology company that designs and develops officially licensed, premium digital collectibles that connect people to their passions. Candy Digital is an official digital collectible partner of Major League Baseball, the Race Team Alliance, the WWE, and Getty Images. Candy operates digital collectible ecosystems where fans and collectors can purchase, trade, and share authentic digital collectibles to deepen their love of sports, media, and culture.
To learn more about Candy Digital, please visit www.candy.com
Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing institutions, startups, and qualified individuals access to the crypto economy. Our full suite of financial services is custom-made for a digitally native ecosystem, spanning multiple synergistic business lines: Trading, Asset Management, Investment Banking, Mining, and Ventures.
Galaxy's CEO and Founder Michael Novogratz, leads a team of crypto enthusiasts and institutional veterans working together on a mission to engineer a new economic paradigm. The Company is headquartered in New York City, with offices in Chicago, New Jersey, Texas, London, Amsterdam, Hong Kong, Tokyo, and the Cayman Islands (reg. office).
Additional information about Galaxy's businesses and products is available on www.galaxy.com.
About ConsenSys Mesh
Founded in 2015 by Ethereum co-founder Joseph Lubin, ConsenSys Mesh is an accelerator and incubator of blockchain technology solutions. Their mission is to champion global adoption and awareness of groundbreaking technologies in Web 3.0 and DeFi.
Mesh includes a portfolio of 190+ equity and token positions, runs the Tachyon startup accelerator, operates an R&D team making meaningful contributions to the Ethereum ecosystem, and has successfully incubated companies such as ConsenSys, Gitcoin, Decrypt, Gnosis, and more.
To learn more about our investment and incubation activity, please visit https://mesh.xyz.
ConsenSys is a leading Ethereum and decentralized protocols software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, MetaMask Institutional, Truffle, Diligence and our NFT platform, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open-source foundation, we are building the digital economy of tomorrow.
To explore our products and solutions, visit https://consensys.net/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005756/en/
Eric Ginsberg (firstname.lastname@example.org)
Michael Wursthorn (email@example.com)