Invest $87 Million in Crypto Firm MoonPay

Invest $87 Million in Crypto Firm MoonPay

MoonPay Financially Backed by Numerous Celebrities
The crypto startup revealed that the investments are part of a Series A fundraiser, valued MoonPay at $3.4 billion. Ivan Soto-Wright – Chief Executive Officer at the company – expects content creators to increasingly use non-fungible tokens and engage with fans after the initiative. He further stated:
“MoonPay sees an entirely different format for the entertainment industry. My thought was: Let’s build a diversified portfolio of incredible people that represent different industries, and let’s talk about the use cases for their intellectual property.”
The total amount of the funding round stood at $555 million, as almost 16% of it came from celebrities. Some of the most famous names include the likes of Justin Bieber, Snoop Dogg, Maria Sharapova, Bruce Willis, Ashton Kutcher, Aubrey Drake Graham (Drake), Gwyneth Paltrow, Abel Tesfaye (The Weeknd), and others.
It is worth noting that MoonPay is famous for interacting with renowned individuals as it often stands as a middleman for celebrity NFT deals. In January this year, it purchased a zombie-themed CryptoPunk for 900 ETH, worth approximately $3 million at the time.
Last year, the host of “The Tonight Show” – Jimmy Fallon – and the American rapper – Post Malone – disclosed they bought a Bored Ape NFT through MoonPay.