Gary Vaynerchuk-Backed Candy Digital and Web3 Production Company Palm NFT Studio Announce Merger

CoinDesk
CoinDesk

29 Jun 2023 3:04 PM

Working together under the Candy Digital name, the two firms will bring their digital experiences within sports, entertainment, arts and culture across major brands including MLB, NASCAR, Netflix and more....

  • Digital collectibles company Candy Digital and Web3 production firm Palm NFT Studio have announced a merger to expand licensed non-fungible token (NFT) projects across sports, entertainment, art, and culture.
  • The merged companies will work together under the Candy Digital name to create digital experiences for sports franchises like MLB, NASCAR, and WWE, as well as entertainment giants like Netflix and Warner Bros Discovery.
  • Candy Digital is backed by Galaxy Digital and Gary Vaynerchuk, while Palm NFT Studio has received funding from Microsoft's M12 and Warner Bros.
  • Candy Digital's CEO Scott Lawin will oversee both companies post-merger, and Palm NFT co-founder and CEO Daniel Heyman will be appointed as president of Candy Digital.
  • The merger aims to leverage the combined infrastructure of both companies to build transformative experiences for fans and create the next generation of digital media and engagement.

The article highlights a positive development in the digital collectibles and NFT space with the merger of Candy Digital and Palm NFT Studio. The companies aim to expand their projects across various industries and create transformative experiences for fans. The sentiment is overall optimistic and forward-looking.

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You May Ask

Which companies are merging in the digital collectibles and NFT space?What is the goal of the merger?Who will oversee both companies post-merger?Which sports franchises and entertainment giants will be involved in the expanded projects?How have Candy Digital and Palm NFT Studio collaborated in the past?

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