Futureverse Acquires Candy Digital: AI and Metaverse Convergence in Fan Experiences

Futureverse acquires Candy Digital to build AI-powered fan experiences

Futureverse, which is building a Web3 and AI ecosystem, has acquired Candy Digital, a company that sells digital collectibles based on brands like Major League Baseball (MLB), Netflix, and more. The goal of the deal is to bring AI to the forefront in the next chapter of immersive experiences for brands and sports entertainment. Candy Digital is a next-generation fan experience platform that connects people to their passions in sports, entertainment and culture. In today's modern media landscape, consumers already spend most of their time in front of screens -- the digital world is where attention lives. Brands and IP are challenged with the constant question of what happens next in a fragmented sea of content? Brands must find innovative ways to utilize emerging technology to break through to consumers and create interesting experiences that people actually care about. Futureverse has allied with Ready Player One author Ernest Cline with Readyverse. With the acquisition of Candy, Futureverse is setting out to help these brands break through the noise by injecting its patented, state of the art AI and metaverse technology into Candy's high-profile intellectual property including over four million digital collectibles and a massive customer base of over 1.5 million accounts. "Brands like MLB and DC Comics already sit at the intersection of digital and real-world fandom," said Aaron McDonald, CEO of Futureverse, in a statement. "By bringing them into Futureverse's ecosystem, we can leverage our technology to build the kind of immersive experiences that enhance brand loyalty and create a new format for great brands, beloved characters and world class stories to deepen their user engagement." "Candy combines emerging technology with purpose-driven design to create loyalty programs, digital ticketing, on-chain gaming, and fan marketplaces that reward participation and strengthen fan communities," said Matt Novogratz, senior vice president of Candy Digital, in a statement. "It's a natural move for us to join forces with Futureverse who are true industry leaders with patented technology that is defining how brands will engage in this ever-evolving digital world where most interactions take place." Candy's premium IP and expansive content library will be integrated into The Root Network, Futureverse's Layer 1 blockchain, which will address brand concerns around AI, creative rights, and ownership. No longer relying on outdated legal frameworks, Futureverse embeds IP protection directly into its technology -- giving these brands the power to unlock new revenue and allow their protected assets to be safely used across gaming and new digital experiences in this next phase of the internet. Futureverse said its tech stack will open new doors for Candy's partners to engage with fresh, digitally native audiences, fostering creativity. Futureverse is creating the ultimate next-generation fan experience -- one where digital ownership is real, gameplay is truly interoperable, and accessibility is easy for everyday people. Candy Digital is backed by industry-leading investors, who are now part of the Futureverse ecosystem, including Galaxy Digital, ConsenSys Mesh, HENI, 10T Holdings, Microsoft, Griffin Gaming, RRE Ventures, Arcadia, Martis Capital, Third Kind Venture Capital, Warner Brothers, The Lao, Wakem Digital, and Jay Street Holdings, among others.

Futureverse Acquires Candy Digital, Taps DC Comics and Netflix IP to Boost Metaverse Strategy - Decrypt

Futureverse, an AI and metaverse tech firm, announced Wednesday it has acquired Candy Digital, a digital collectibles platform, even as interest in the sector has waned in recent years. The deal gives Futureverse access to the latter's sprawling blue-chip brand portfolio, including Major League Baseball, Netflix, and DC Comics. Those brands "already sit at the intersection of digital and real-world fandom," Aaron McDonald, co-founder and CEO of Futureverse, said in a statement shared with Decrypt. The acquisition gives Futureverse access to Candy's portfolio of over 4 million digital collectibles and customer base of 1.5 million accounts, with the AI and metaverse firm planning to gradually integrate its tech with Candy's high-profile intellectual property partnerships. Futureverse claims that bringing in these brands and stories could help it make and "build immersive experiences" to "enhance brand loyalty." Since its formation in late 2022 and after its $54 million Series A almost two years ago, the company has positioned itself as a leader in developing infrastructure for what it calls the "open metaverse." The company was last valued in 2023 at roughly $1 billion, making it the first Māori-founded unicorn, according to Callaghan Innovation, New Zealand's government innovation agency. Candy's content library will be integrated into The Root Network, Futureverse's layer-1 blockchain designed to address intellectual property protection concerns. Futureverse believes the integration could help brands signed with Candy Digital to "safely use" and protect their IP. The acquisition was a "natural move" for Candy Digital, its co-founder and senior vice president Matt Novogratz said in the statement. Futureverse has "patented technology" that has helped define how brands engage people in the digital world, "where most interactions take place," he adds. But skepticism over the term "metaverse," fueled by the general market decline of NFTs, raises concerns for projects like Futureverse. From sales of premier collections at a loss, to major tech firms shutting down their NFT projects, to marketplaces shifting to AI instead, those trends in the crypto industry have waned over the years. Still, Futureverse has expanded rapidly through strategic acquisitions and concurrent partnerships. Those included IP collaborations with Warner Bros., FIFA, and Reebok, among others. Meanwhile, the company's technology stack includes generative AI tools, blockchain infrastructure, and developer tools for creating interoperable digital experiences. Candy Digital's investors, including Galaxy Digital, ConsenSys Mesh, and Microsoft, will join the Futureverse ecosystem as part of the acquisition. The exact financial terms of the deal were not disclosed. Decrypt did not immediately receive responses from Futureverse on that matter.