ChainCatcher news, digital collectibles company Candy Digital and Web3 production company Palm NFT Studio announced their merger. The merged company will operate under the name Candy Digital and will create digital experiences for sports franchises such as Major League Baseball (MLB), NASCAR, and World Wrestling Entertainment (WWE), as well as entertainment giants like Netflix.Candy Digital's CEO Scott Lawin will oversee both companies after the merger, while Palm NFT co-founder and CEO Daniel Heyman will be appointed as the president of Candy Digital. As part of the merger process, Candy Digital laid off approximately 30 employees on Monday.A source revealed, "We can confirm that the layoffs you mentioned are a result of the merger. During this transition period, our top priority is to streamline operations and ensure long-term growth and sustainability." (source link)

ChainCatcher news, the digital collectibles platform Candy Digital announced that it has completed its A1 round of financing, led by Galaxy and ConsenSys Mesh, with follow-on investments from 10T Holdings and ConsenSys. The specific terms of the financing have not been disclosed.It is reported that Candy Digital was launched in 2021, with the mission of developing the fan economy through the creation of digital collectibles and experiences. It will continue to expand its flagship digital product offerings, including ICON trading cards, tickets, and more. By establishing new partnerships with ConsenSys Mesh and ConsenSys, Candy will accelerate the development of its platform, tools, and experiential capabilities. (Source link)

ChainCatcher news, sports merchandise giant Fanatics plans to sell its 60% stake in digital collectibles company Candy Digital to crypto financial services firm Galaxy Digital, with specific terms of the deal yet to be disclosed.Previously reported, on November 29, 2022, Candy Digital's Chief Customer Experience Officer Megan Merrick announced on Discord that the company was forced to lay off employees due to challenging macroeconomic conditions and rapidly deteriorating market conditions. According to anonymous sources, more than a third of the company's approximately 100 employees were laid off. Former Candy Digital employees stated that up to half of Candy Digital's staff may have been let go. (source link)