Former Sotheby's CEO Tad Smith Acquires Digital Collectibles Platform Candy Digital

Tad Smith, former CEO of Sotheby's and current chairman of Doodles, has agreed to purchase most assets of Candy Digital, a digital collectibles platform. The transaction is expected to close within weeks, after which Smith will become CEO. Candy Digital launched in 2021 with backing from investors including Michael Rubin, Mike Novogratz, and Gary Vaynerchuk, securing partnerships with Major League Baseball, DC Comics, and Netflix. The platform reached approximately 1.5 million users at its peak but entered a maintenance phase in 2024 following the NFT market downturn. Smith plans to build on existing infrastructure, emphasizing continuity for users and licensors while focusing on engagement. The acquisition reflects ongoing institutional interest in digital collectibles despite market contraction.