Summary:
- Candy Digital has announced a merger with web3 production company Palm NFT Studio.
- The two companies will operate under the name Candy Digital to build digital experiences for sports, culture and entertainment.
- Some of the targeted sports and entertainment brands include MLB, NASCAR, WWE and Netflix.
Candy Digital has announced a merger with web3 production company Palm NFT Studio. The two companies will now operate under the name Candy Digital to create experiences for the sporting, entertainment, art and culture industries.
The merger allows the companies to accelerate the development of new experiences for some of the world’s leading brands, including Major League Baseball (MLB), NASCAR, WWE, Netflix, and Warner Bros Discovery, among others.
The MLB, Netflix and WWE were already part of Candy Digital’s portfolio of partners before the merger, while Warner Bros Discovery invested in Palm NFT Studio.
Candy Digital is backed by renowned web3 creator Gary Vaynerchuk and Michael Novogratz’ digital asset firm Galaxy Digital.
According to the announcement on Thursday, Candy Digital CEO Scott Lawin will lead the combined company, while Palm NFT Studio Co-Founder and CEO Daniel Heyman will join as President of Candy Digital.
Commenting on the merger, Lawin said: “Over the past two years, Candy Digital and Palm NFT Studio have pioneered breakthrough digital experiences and crafted innovative creative tools, connecting fans to some of the world’s most captivating content. Together, we’ll accelerate our mission of defining a new category of brand experience that focuses on co-creation, rewarding loyalty and connecting communities.”
The company claims that over 2 million digital collectibles have already been minted in Candy.com, Candy Digital’s NFT platform whilst also overseeing nearly 500,000 marketplace transactions.
“Palm NFT Studio was founded to help artists, creators, and fans build new ways to connect. Over the course of the past two years, we’ve cultivated some of the largest communities in web3, and developed the technological infrastructure for some of the space’s leading projects on the Palm network,” said Heyman.
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