Dozens of celebrities invested USD 87 million in MoonPay, a crypto payment startup

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In November 2021, MoonPay announced a $555 million Series A funding round that brought the crypto payment platform’s valuation to $3.4 billion. On Wednesday, April 13, 2022, the fintech company revealed that $87 million of the total $555 million came collectively from more than 60 public figures and celebrities from the music, sports, media and entertainment industries. entertainment.

While the Series A round was led by the likes of Tiger Global Management and Coatue, with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the following well-known names are also considered strategic investors: Gwyneth Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey, and Bruce Willis. Other “VIP members of the industry” such as Ashton Kutcher, Justin Bieber, Snoop Dogg, Paris Hilton Y Steve Aoki they are already deeply involved in the cryptocurrency and non-fungible token (NFT) space.

The company shared that this financing and continued support from investors will allow it to accelerate its international expansion, grow the team and bring in new partners. MoonPay’s long-term mission is to increase cryptocurrency access to the next billion people by 2030.

MoonPay is known for allowing users to purchase cryptocurrencies and NFTs with credit or debit cards, bank transfers, or mobile wallets on Apple Pay and Google Pay. The investments have allowed the fintech startup to develop new products such as NFT Checkout and MoonPay Concierge, a referral-based service from high net worth individuals that buys cryptocurrencies and NFTs on their behalf for a fee. For example, when actress Gwyneth Paltrow wanted an NFT from the Bored Ape Yacht Club (BAYC) she went to MoonPay and then thanked the company via Twitter.

Paltrow, who is also a co-founder of Kinship Ventures, said in a statement that “Web 3.0 is inspiring the entertainment industry, and commerce in general, to reimagine the way we create community, connect with fans, build value and We manage the intellectual property.

the rapper Post Malone even promoted MoonPay in his music video for “One Right Now” with The Weeknd purchasing an NFT from the BAYC collection through the app. In addition to the music video, Malone recorded his purchase of two Bored Apes totaling 160 Ether (ETH), worth approximately $682,000, in MoonPay-sponsored TikTok videos.

Apart from actors and artists, athletes such as Paul George, seven-time NBA All Star and Olympic gold medalist, acknowledged that “Cryptocurrencies and NFTs will be key to maximizing the business of professional sports going forward.”

When asked how MoonPay plans to embark the world on Web 3.0, MoonPay’s head of communications, justin hamilton, told Cointelegraph that the company is “focused on helping foster a healthy ecosystem of partners with a reliable payment infrastructure.” He added that the best way to encourage adoption is to “give creators the ability to own their intellectual property and have greater control over their creative output and financial support.”

So far, 10 million customers from 160 countries have processed close to $3 billion in MoonPay transactions through more than 250 partner sites, including Y Open Seadepending on the company.

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