MoonPay Raises $87 Mln In Celebrity-Led Funding Round

MoonPay, a crypto funds platform valued at $3.4 billion, stated it raised $87 million in funding from a number of widespread sports activities and media personalities.

The corporate said on Wednesday it had raised tens of millions from 60 high-profile celebrities and firms in its push into Web3. MoonPay has facilitated the recognition of cryptos and NFTs amongst celebrities by simplifying the fee infrastructure.

Maria Sharapova, Gal Gadot and Snoop Dogg amongst MoonPay traders

MoonPay’s management within the crypto and NFT house has attracted funding from influential folks within the music, sports activities, media & leisure industries. In complete, 60 celebs and well-known personalities-led corporations have poured $87 million into MoonPay.

The celebrities embrace Maria Sharapova, Justin Bieber, Jason Derulo, Bruce Willis, Paris Hilton, Gal Gadot, Matthew McConaughey, Snoop Dogg, and others.

A number of celebrity-led corporations additionally invested within the agency, together with Drake’s DreamCrew, Ashton Kutcher and Man Oseary’s Sound Ventures, Gwyneth Paltrow & Moj Mahdara’s Kinship Ventures, and others.

MoonPay has attracted funding from firms together with Tiger World Administration, Blossom Capital, Thrive Capital, Paradigm, and NEA, who helmed a $555 million funding spherical in November. The funding allowed the crypto fee unicorn obtain a $3.4 billion valuation final yr.

Ivan Soto-Wright, CEO and Co-founder of MoonPay, stated:

“Web3 is radically altering the way in which we strategy the enterprise of leisure, sports activities and music. The enterprise are utilizing Web3 applied sciences in managing mental property rights, remodel fan engagement, and management royalty rights.”

NFT Engagement within the Music, Sports activities, Media and Leisure

The leisure, sports activities, and music industries are exploring NFTs and Web3 know-how to construct group, join, and interact with their followers. MoonPay has helped drive that by simplifying entry to the crypto economic system and NFTs.

Commenting on their funding in MoonPay, Gwyneth Paltrow, actress and Co-Founding father of Kinship Ventures, stated:

“We’re excited to put money into MoonPay as a result of we consider their know-how is greatest positioned to make taking part in cryptocurrency extra accessible.”

Celebrities, well-known artists, and personalities from varied industries are leaping into the NFT house. For example,  celebrities like Gwyneth Paltrow, Eminem, Snoop Dogg, and Steph Curry have used Bored Apes NFTs as profile photos. Furthermore, some celebrities are collaborating with artists to create and promote their NFTs.