Fanatics Buying Topps In a Nod to Digital Future
In a continuation of their deals last year with Topps, Michael Rubin’s Fanatics company just paid $500 million for Topps trading card business. Here are the facts:
* Fanatics recently signed deals with NFL and NBA and MLB. * Previously their MLB deal was set to begin in 2025 but with this acquisition it can begin now. * This deal also includes assets related to Formula One and European soccer. * This is the killshot in a series of moves which surprised Topps which was previously set to go public by SPAC before Fanatics negotiated its own deal with MLB.
Here’s where I am most excited about this deal. 1 - It gives all these sporting goods and celebrity assets to a company with a digital mindset. 2 - We should all look to innovation in the space, particularly with regards to digital assets. In particular digital memorabilia, goods and services related to sports of all kinds. 3 - The timing is impeccable given the year that NFTs had in 2021 which is just the foundation of future years. It’s Michael Rubin, his timing is always impeccable. 4 - One thing which is not quite as well known. Michael Rubin along with partners Gary Vaynerchuk launched a business called Candy Digital which is an NFT company. This means that Michael Rubin has not only the rights to the likeness of all these major sports assets, but also a digital agency with its finger on the pulse of the future through his collaboration with GaryVee.
Candy’s immersive ecosystem allows fans and collectors to seamlessly purchase, trade, and share officially licensed NFTs.
My view is that it won’t be long before Candy Digital becomes one of the biggest agencies in the sports world, but also one of the biggest marketplaces online to trade digital goods.