Dozens of VIP backers invest $87M into crypto payment startup MoonPay

In November 2021, MoonPay announced a $ 555 million Series A finance round that brought the crypto payment platform ‘s evaluation to $ 3.4 billion. On Wednesday, the fintech company revealed that $ 87 million of the full $ 555 million came jointly from more than 60 public figures and celebrities in the music, sports, media and entertainment industries. While the Series A round was led by firms like Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the following family names are besides considered strategic investors : Gwyneth Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey and Bruce Willis. other “ industry VIPs ” like Ashton Kutcher, Justin Bieber, Snoop Dogg, Paris Hilton and Steve Aoki are all already profoundly involved within the crypto and nonfungible token ( NFT ) space. Related: Snoop Dogg may be the face of Web3 and NFTs, but what does that mean for the industry? The company shared that this support and the stay hold from investors will enable it to accelerate its international expansion, grow the team and bring in raw partners. MoonPay ‘s longterm deputation is to increase cryptocurrency access to the following 1 billion people by 2030.

MoonPay is best known for letting users purchase cryptocurrencies and NFTs with a credit or debit poster, bank transfers or fluid wallets on Apple Pay and Google Pay. The investments have allowed the fintech startup to develop newfangled products like NFT Checkout and MoonPay Concierge, a referral-based military service for high-net-worth individuals that purchases crypto and NFTs on their behalf for a fee. For exemplar, when actress Gwyneth Paltrow wanted a Bored Ape Yacht Club ( BAYC ) NFT she went to MoonPay and then thanked the party via Twitter .
Paltrow, who is besides the co-founder of Kinship Ventures, said in a affirmation that “ Web3 is inspiring the entertainment industry, and commerce in general, to reimagine the way we create community, connect with fans, build value and manage intellectual property. ”

Rapper Post Malone even promoted MoonPay in his music video for “ One Right immediately ” with The Weeknd by purchasing a BAYC NFT via the app onscreen. In accession to the music television, Malone recorded his leverage of two Bored Apes for a unite 160 Ether ( ETH ), worth roughly $ 682,000, in TikTok videos sponsored by MoonPay. apart from actors and artists, athletes like Paul George, a seven-time NBA All Star and Olympic Gold Medalist, recognized that “ Crypto and NFTs will be key to maximizing the business of professional sports as we look ahead. ”

Related:  High-profile athletes are spending huge amounts on NFTs: Here’s why When asked how MoonPay plans to onboard the worldly concern to Web3, MoonPay ‘s head of communications Justin Hamilton told Cointelegraph that the caller is “ Laser-focused on helping foster a healthy ecosystem of partners with dependable payment infrastructure. ” He added that the best way to foster adoption is by “ Empowering creators to own their IP and have greater master on their creative output and fiscal confirm. ” sol far, 10 million customers across 160 countries have processed close to $ 3 billion in transactions via MoonPay through more than 250 partner sites, including Bitcoin.com and OpenSea, according to the company .

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