But Fanatics’ CEO Michael Rubin wrote in the internal email that “Divesting our ownership stake at this time allowed us to ensure investors were able to recoup most of their investment via cash or additional shares in Fanatics – a favorable outcome for investors, especially in an imploding NFT market that has seen precipitous drops in both transaction volumes and prices for standalone NFTs.”
Source: https://www.coindesk.com/business/2023/01/04/fanatics-selling-its-60-stake-in-sports-nft-firm-candy-digital-report/?utm_medium=referral&utm_source=rss&utm_campaign=headlines