MoonPay, a cryptocurrency payments startup, secured a $87 million fundraising led by many investors including Justin Bieber (Canadian singer), Maria Sharapova (former tennis champion) and Bruce Willis (Hollywood actor). The company pledged to use the funds to increase its NFT efforts as well as allow interaction between artists and fans.
MoonPay Financially Supported by Numerous Celebrities
MoonPay, a crypto startup, revealed that the investments were part of a Series A fundraising. It was valued at $3.4 billion. Ivan Soto Wright, the Chief Executive Officer of the company, stated that content creators will use non-fungible tokens more often and interact with fans following the initiative. He added:
MoonPay envisions a completely different model for the entertainment industry. My idea was to create a diverse portfolio of amazing people from different industries and talk about the possible uses for their intellectual property.
The total funding round was $555 million. Nearly 16% of that came from celebrities. Snoop Dogg and Justin Bieber are just a few of the famous names involved in the funding round.
Drake. Source: NBC
MoonPay is well-known for its interactions with famous individuals. It often acts as a middleman in celebrity NFT deals. It purchased a CryptoPunk with a zombie theme for 900 Ethereum, which was approximately $3 million at that time.
MoonPay asked people to tweet their guesses about the owner of the digital collectible after the transaction was closed. Fans had a wide range of predictions, from Gordon Ramsay to NBA stars.
Last year, Jimmy Fallon, host of “The Tonight Show”, and Post Malone, an American rapper, revealed that they purchased a Bored Ape NFT from MoonPay.
The Partnership with MEW
MoonPay has teamed up with MyEtherWallet, MEW as one of its latest ventures. The startup was integrated by the latter as an on/off ramp partner for all platforms. This was done to give customers greater access to the Ethereum Blockchain.
MoonPay’s main goal is to simplify client’s work, and Ivan Soto Wright expressed hope that this initiative would do so.
MoonPay’s mission it to make fiat-tocrypto transactions easier so more people have access to this amazing technology. Our services are available to both crypto-savvy users and those who are new to the technology through our partnership with MEW.
Kosala Hmachandra, CEO and Founder at MEW, predicted that MoonPay’s collaboration will enable new clients to feel more confident exploring Ethereum.
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