US-based digital collectible platform provider Candy Digital closed a $100m series A round yesterday co-led by telecommunications and internet group SoftBank’s Vision Fund 2 and growth equity firm Insight Partners.
The round included mobile game publisher Com2Us and Connect Ventures, a partnership between talent agency Creative Artists Agency (CAA) and venture capital firm New Enterprise Associates (NEA), in addition to Will Ventures and Gaingels.
Athletes Syndicate, which includes current and retired American sports professionals including Peyton Manning, also participated in the round, in partnership with Chaos Ventures. The cash was raised at a $1.5bn valuation.
Founded earlier this year, Candy Digital provides a next generation digital collectible platform where fans and collectors are able to purchase, trade and share officially licensed non-fungible tokens (NFTs).
The company plans to use the capital to further boost the expansion of its NFT offering for both current and emerging partners, while accelerating the growth of its team and capabilities across its creative content studio, user experience and marketplace platform.
Part of the proceeds will also be used to expand Candy Digital’s recruitment, marketing, customer success and engineering teams.
Scott Lawin, Candy Digital’s chief executive, said: “Blockchain and NFTs provide tremendous opportunities to enhance the fan experience by allowing people to own a piece of their passion.
“We are thrilled to continue partnering with the leading sports leagues around the world to engage fans through the next generation of sports collectibles as we create the future of fandom together.”