Crypto payments startup, MoonPay raised $87 million from prominent figures of the music, sports and media & entertainment industry.
Over 60 influential figures have invested in this venture including Justin Bieber, Gwyneth Paltrow, Maria Sharapova, The Weeknd, Drake, Snoop Dogg, Bruce Willis and Paris Hilton.
Gwyneth Paltrow, Co-Founder of Kinship Ventures said, “We are excited to invest in MoonPay because we believe their technology is best positioned to make participating in cryptocurrency more accessible.”
The celebrity investments were a part of $555 million raised in a Series A funding round, valuing the company at $3.4 billion in November 2021. The round was led by Tiger Global, Coatue and Blossom capital.
MoonPay is a crypto payment infrastructure provider. The company allows purchase of NFTs with credit and debit cards. MoonPay launched the MoonPay Concierge service to allow celebrities to buy NFTs and crypto without having to set up a crypto wallet.
“Hollywood is using smart contracts and blockchain technology to assert their creative intellectual property rights. Major global sports franchises have used digital tokens and NFT collectibles to transform fan engagement” said Ivan Soto-Wright, CEO and Co-founder of MoonPay.
“And recording artists are beginning to explore how NFTs can give them more control over royalty rights. These are the underpinnings of a creator economy renaissance. And our strategic investors are helping to lead that movement. We’re honored to work with them to help onboard the world of Web3.”
