NFT startup Candy Digital valued at $1.5 billion

The Candy Digital startup, founded by Galaxy Digital founder Mike Novogratz, entrepreneur Gary Vaynerchuk, and Fanatics CEO Michael Rubin, has raised $100 million at a $1.5 billion valuation.

Candy Digital, the NFT co. backed by @michaelrubin, @novogratz, and @garyvee, has raised $100M at a $1.5 billion valuation.

SoftBank and Hall of Famer Peyton Manning are among its investors.

The company will run its NFT products on the Ethereum blockchain. pic.twitter.com/mp8sjnMOZV

— Boardroom (@boardroom) October 21, 2021

The Series A funding round was led by Insight Partners and SoftBank through Vision Fund 2.

Chaos Ventures and Athletes Syndicate also provided financing. The latter is represented by current and former players from Major League Baseball (MLB), the NFL and the NBA.

The company will promote NFT with a sports focus. The first partner became MLB.

In late October, Candy Digital will unveil a platform that will enable NFT trading.

Earlier in September, the NFL and the Dapper Labs planned to launch an NFT marketplace.

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