Candy Digital, an NFT company and MLB are partnering to release digital collectibles for the 2023 baseball season. MLB Showstopper ICON series is an NFT collection of 43 baseball players priced at $43 per pack.
The previous drop on Wednesday sold out in just three minutes. Candy’s commemorative game tickets, created by Palm, an Ethereum sidechain for NFTs, will be distributed again this season.
Quick Takes:
- Candy Digital and MLB launch in-demand digital collectibles, including the MLB Showstopper ICON series NFTs and commemorative game tickets.
- Candy Digital explores expansion by integrating AR connectivity and pursuing collaboration opportunities with rivals like Sorare to enhance collector value.
- Fanatics maintains its investment in Candy Digital despite divestment. This keeps the door open for future collaboration in the sports memorabilia market.
MLB NFTs: Candy Digital’s Innovative Approach
Candy Digital intends to expand its digital collectible projects by incorporating AR connectivity. Given that, the company’s CEO Scott Lawin thinks they can work together with rivals such as Sorare to bring utility to their customers and collectors.
Essentially, the enterprise was established in 2021 by Gary Vaynerchuk, Mike Novogratz, and Michael Rubin. They had partnerships with the National Baseball Hall of Fame, Getty Images, WWE, and NASCAR teams. Now, the company uses 3D volumetric technology to scan items from TV series such as Stranger Things into digital treasures.
Candy and Fanatics
Not to mention, Candy Digital has faced challenges due to the volatility of the NFT market. The company had a rocky start in the NFT industry. In addition, Fanatics sold the majority of its ownership in January due to concerns about the sustainability of NFTs. However, Lawin has said that Fanatics is still an investor in the company. There may be opportunities for them to work together in the future.
Candy Digital focuses on digital collectibles, while Fanatics’ main product is physical sports memorabilia. Although, Fanatics remains an investor in Candy Digital, albeit at a smaller level.
Certainly, the sports NFT sector has several strong rivals, including Dapper Labs, which manages digital collectible marketplaces for the UFC, NBA, NFL, and Sorare. These sports giants collaborate with MLS, MLB, the NBA, and the English Premier League.
Finally, there are different segments of rights on what can or can’t be done with sports licensing assets. However, Lawin believes that finding a way to work together with competitors would be a great outcome for fans.
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