The Series A round was co-led by Insight Partners and SoftBank. Here are the top-line bullets you need to know.
Candy Digital, a nonfungible token (NFT) and digital sports collectibles marketplace, has raised $100M in a Series A. The round drew participation from SoftBank Group, Insight Partners, Chaos Ventures, and Connect Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- New York-based Candy Digital marketplace allows fans and collectors to buy, trade, and share licensed NFTs.
- The company has reportedly sold nearly 42,000 individual NFTs.
- It has partnered with the Major League Baseball Players Association, the Race Team Alliance, Major League Baseball, and various college athletes.
Source: Candy Digital
WHY DOES THE MARKET MATTER?
- The global blockchain market is projected to grow at a CAGR of 82.4% and reach a value of $394.6B by 2028, according to Grand View Research.
- The increasing demand for online payment transparency and security is contributing to market growth.
- Growth is also being driven by rising cryptocurrency acceptance across the globe.