$123,004.00
1.20%$4,517.70
1.68%$1,301.65
-1.61%$2.87
0.09%$228.93
3.93%$0.999696
-0.01%$0.254212
2.71%$4,519.76
1.50%$0.341875
1.33%$0.836569
1.93%$5,493.88
1.50%$4,881.24
1.57%$123,236.00
1.33%$22.59
3.04%$0.999859
0.01%$1.017
2.05%$3.53
2.07%$46.40
3.14%$0.387022
0.59%$28.80
3.02%$4,874.52
1.66%$582.73
0.70%$4,520.97
1.43%$0.219105
0.17%$118.74
1.19%$9.67
0.05%$2.79
20.77%$0.999924
-0.16%$123,157.00
1.37%$0.999827
0.06%$1.00
-0.04%$0.00001231
0.83%$2.78
0.67%$0.197805
1.17%$4.18
0.93%$44.25
0.88%$334.29
4.06%$1.20
0.03%$0.185748
1.39%$8.07
3.47%$222.11
-0.46%$285.86
3.35%$0.576036
6.03%$0.00000954
0.87%$5.68
3.30%$2.94
-0.70%$5.14
-3.23%$2.13
4.18%$282.88
3.85%$1.87
-8.68%$337.60
2.62%$19.60
2.69%$0.923623
1.18%$9.17
-1.63%$174.49
36.41%$1.00
0.00%$1.27
6.87%$246.20
4.27%$4,520.01
0.72%$0.99989
0.07%$0.99938
0.30%$0.240934
1.25%$0.999949
0.03%$4.50
1.61%$5.88
1.75%$0.434499
2.93%$0.00611372
-1.80%$15.87
0.27%$0.03263752
6.98%$1.071
0.03%$5,170.37
1.46%$0.07511
-0.04%$0.239948
-2.23%$16.63
-0.14%$0.223709
1.66%$4.16
2.21%$0.02272279
0.47%$46.66
3.42%$0.999658
0.07%$4,766.06
1.68%$0.03584342
4.99%$0.02315357
-1.07%$0.287808
0.89%$3.35
-0.61%$4,769.62
1.73%$0.999623
0.01%$1,301.75
-1.65%$2.36
2.99%$4,887.33
1.76%$0.068811
3.25%$0.868739
-2.98%$0.997789
0.10%$0.00002011
1.37%$7.75
3.11%$4,037.09
0.83%$102.24
1.04%$123,055.00
1.25%$4,793.76
1.60%$1.57
8.55%$0.552861
-0.96%$0.450506
1.70%$0.401511
-4.82%$4.07
-6.36%$0.71066
0.03%$0.073795
1.10%$0.729711
2.15%$1.28
2.22%$12.64
1.63%$122,862.00
0.95%$4,046.27
0.94%$1.49
2.47%$261.48
4.10%$1.13
-0.01%$0.999724
-0.43%$4,867.00
1.08%$0.6111
1.33%$0.998342
0.04%$5.51
83.08%$0.283432
-4.30%$1.20
1.20%$0.740657
-1.19%$5.36
-2.87%$304.17
3.81%$123,103.00
1.30%$1.084
-0.09%$0.0000995
1.19%$123,936.00
2.12%$0.16257
3.30%$1.69
-4.55%$0.08294
0.85%$2.01
-0.36%$4,243.53
-0.59%$0.142821
0.66%$4,517.28
1.70%$4.69
-2.52%$122,901.00
1.32%$0.99996
0.02%$112.86
0.01%$0.148617
6.79%$0.18646
0.91%$2.83
0.70%$10.85
0.01%$0.745261
1.05%$1.13
3.44%$0.01591299
3.66%$0.732198
-0.29%$0.999736
0.01%$0.683754
0.14%$0.278028
-1.94%$21.42
3.68%$1.84
-5.92%$0.162729
-5.40%$4,842.60
1.45%$4,524.92
1.84%$2,398.72
0.00%$0.997803
-0.06%$0.67932
4.77%$1.083
-0.06%$4,522.37
1.70%$0.00831131
-1.26%$0.272008
1.31%$0.254052
1.88%$11.36
-12.36%$0.400229
0.52%$0.052074
-3.65%$1.51
-7.44%$1.62
2.24%$4,864.14
1.24%$0.01284412
1.72%$0.322956
0.11%$1.79
0.25%$0.081878
-0.78%$4,982.51
1.66%$0.61832
3.29%$4,973.41
1.58%$1.045
1.41%$0.370359
3.40%$0.402242
1.83%$2.78
0.69%$0.0000006
0.44%$123,218.00
1.23%$0.117112
-5.49%$0.998292
0.06%$4,865.84
1.53%$1.41
6.37%$0.577672
3.97%$0.02731473
6.09%$46.65
3.53%$26.11
1.23%$0.5125
9.13%$6.67
2.32%$35.27
2.81%$1.002
0.32%$253.84
3.88%$1,372.04
-1.61%$46.54
3.40%$0.999721
-0.09%$4,497.39
1.80%$4,523.89
1.41%$4,512.03
1.50%$28.81
3.13%$0.0091698
-1.25%$1.00
-0.06%$0.599912
0.95%$2.50
1.90%$1.10
0.04%$0.588493
5.90%$0.0150211
-1.10%$0.999765
0.01%$0.04578076
6.12%$0.406788
4.45%$0.999622
-0.02%$6.34
4.02%$0.00104323
16.12%$0.00000043
0.21%$0.04233961
1.41%$42.79
0.90%$1.10
-0.02%$0.00435272
-2.60%$1.17
1.67%$4,777.10
1.65%$33.16
10.61%$0.056892
3.13%$0.02631948
0.66%$0.994467
-0.41%$123,253.00
1.23%$151.85
0.35%$5,507.03
1.37%$262.70
3.71%$0.389686
3.04%$5.99
2.67%$0.00457075
-0.98%$13.52
1.24%$0.01088468
-0.42%$1.12
0.35%$1.17
-0.01%$0.159773
0.80%$1.097
0.02%$0.113091
-10.33%$4,515.96
1.16%$0.5899
2.23%$0.00607267
1.96%$2.19
2.25%$1.21
-0.09%$0.00001814
1.14%$0.257493
1.24%$0.397876
21.13%$2.78
8.15%Reading
Sports merchandising giant Fanatics has divested its majority stake in NFT firm Candy Digital, according to a company memo obtained by Decrypt.
Fanatics CEO Michael Rubin informed employees of the move today, writing that the company has sold off its approximately 60% stake in Candy Digital to a group led by Galaxy Digital, the other founding shareholder of the sports and entertainment-centric NFT startup. The move follows a recent round of layoffs at the startup.
“When we looked at all the factors on the table, this was a rather straightforward and easy decision for us to make for several reasons,” Rubin wrote in the memo.
Candy Digital, a sports and entertainment NFT startup that was founded in 2021 and rocketed to a $1.5 billion valuation that same year, laid off a large part of its staff today, a source close to the situation confirmed to Decrypt. Sportico first reported the news that Candy had laid off more than one-third of its approximately 100-person team, citing sources close to the company. One former employee, Community Content Manager Matthew Muntner, tweeted that he was included in the departures. Decr...
Candy Digital launched in June 2021 with the official Major League Baseball license, and quickly notched a $1.5 billion valuation when it raised $100 million in October of that year.
However, the NFT market declined significantly in 2022 following wider crypto market drops, and like many NFT startups, Candy Digital was significantly impacted. In November, Candy laid off at least one-third of its 100-person staff, which was first reported by Sportico and confirmed to Decrypt by a source close to the company.
In his email today to staff, Rubin said that NFTs “will most likely emerge as an integrated product/feature and not as a standalone business.” Since co-founding Candy Digital in 2021, Fanatics acquired storied trading card brand Topps, which has its own NFT business.
“Over the past year, it has become clear that NFTs are unlikely to be sustainable or profitable as a standalone business,” Rubin wrote, adding that Fanatics believes that “digital products will have more value and utility when connected to physical collectibles to create the best experience for collectors.”
Rubin added that that move was made now to try to “maintain the integrity of the relationships with our investors,” and said that “we never achieved full integration of Candy within the Fanatics environment or culture due to shareholders with competing objectives and goals.”
Tezos co-founder Kathleen Breitman has been in crypto since the beginning and has seen a lot of cycles and failures. She joined Stacy Elliott and Dan Roberts and brought the fire on FTX and Sam Bankman-Fried’s mismanagement, “decentralization theater,” Tezos’s reputation and positioning, crypto sports marketing, and NFTs. Watch and make sure to subscribe to the gm podcast on Apple or Spotify.
“The investors in Candy bought into the vision not because of NFTs or Candy itself, but because of our track record at Fanatics,” he wrote. “Divesting our ownership stake at this time allowed us to ensure investors were able to recoup most of their investment via cash or additional shares in Fanatics—a favorable outcome for investors, especially in an imploding NFT market that has seen precipitous drops in both transaction volumes and prices for standalone NFTs.”
Rubin was one of the founding board members along with Galaxy Digital’s Mike Novogratz and entrepreneur and investor Gary Vaynerchuk. Fanatics declined comment for this story.
Recently resurgent Ethereum NFT project Moonbirds has unveiled its next major step: the launch of BIRB, an ecosystem token set to debut on Solana. The plans were announced at the Moonbirds Birbhalla side event alongside Token 2049 in Singapore, where O.G. supporters and new holders gathered. A teaser post on X suggests the token will launch "soon(ish)." The pixelated owl collection has been through multiple hands of ownership since launching in 2022. Originally created by Kevin Rose’s Proof Coll...
The Milady gang thinks social media is broken, calling the community of fans the “diaspora of chan culture”—such as the notoriously edgy 4chan. To fix that, the NFT project’s creators are launching a social media network to rival X, with the first step coming via official Milady profiles. RemiliaNET is an in-browser experience that will allow the community to track their Milady achievements and build up a “social credit score,” with a competitive leaderboard to boot. And the upcoming RemiliaChat...
Blockchain games are shutting down in droves so far this year, as hype and funding fade and crypto investors turn their attention elsewhere. But one long-running crypto game hopes to draw some of those players affected by shutdowns by offering free NFT assets for affected users. Crypto trading card game Splinterlands is inviting the players of failed blockchain games to apply to its newly formed recovery fund, in which $500,000 worth of crypto tokens and in-game assets can be unlocked over the n...
