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Mike Novogratz's New NFT Company Partners with Major League Baseball

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Tue, 06/01/2021 - 11:27
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Alex Dovbnya
Cryptocurrency tycoon Mike Novogratz has co-founded an NFT company that has secured a partnership with Major League Baseball
Mike Novogratz's New NFT Company Partners with Major League Baseball
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After joining forces with Fanatics chairman Michael Rubin and Belarusian-American entrepreneur Gary Vaynerchuk, Galaxy Digital CEO Mike Novogratz has launched a new company called Candy Digital, which is focused on non-fungible tokens (NFTs) and digital collectibles.

The company has already scored with its first partnership with Major League Baseball. Back in April, the MLB also collaborated with Topps to launch its first NFT collectible.

Candy Digital's token sales will be powered by Ethereum-based platform Palm.

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The very first NFT will be devoted to New York Yankees' Lou Gehrig. It will go on auction on July 4.

Novogratz claims that his company will play "a key role" in the success of the NFT market:

NFTs are fundamentally changing how we think about owning cultural artifacts. We're in the very early stages of this transformation and Candy's focus on creativity, community and authenticity will all play a key role in its success in defining this new market.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.