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

In November 2021, MoonPay introduced a $555 million Sequence A financing spherical that introduced the crypto fee platform’s valuation to $3.4 billion. On Wednesday, the fintech firm revealed that $87 million of the whole $555 million got here collectively from greater than 60 public figures and celebrities within the music, sports activities, media and leisure industries. 

Whereas the Sequence A spherical was led by corporations like Tiger International Administration and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the next family names are additionally thought of strategic buyers: Gwyneth Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey and Bruce Willis. Different “business VIPs” like Ashton Kutcher, Justin Bieber, Snoop Dogg, Paris Hilton and Steve Aoki are all already deeply concerned inside the crypto and nonfungible token (NFT) area. 

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The corporate shared that this funding and the continued assist from buyers will allow it to speed up its worldwide growth, develop the workforce and herald new companions. MoonPay’s longterm mission is to extend cryptocurrency entry to the subsequent 1 billion individuals by 2030.

MoonPay is finest identified for letting customers buy cryptocurrencies and NFTs with a credit score or debit card, financial institution transfers or cell wallets on Apple Pay and Google Pay. The investments have allowed the fintech startup to develop new merchandise like NFT Checkout and MoonPay Concierge, a referral-based service for high-net-worth people that purchases crypto and NFTs on their behalf for a charge. For instance, when actress Gwyneth Paltrow needed a Bored Ape Yacht Membership (BAYC) NFT she went to MoonPay after which thanked the corporate by way of Twitter.

Paltrow, who can also be the co-founder of Kinship Ventures, stated in a press release that “Web3 is inspiring the leisure business, and commerce basically, to reimagine the best way we create neighborhood, join with followers, construct worth and handle mental property.”

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Rapper Put up Malone even promoted MoonPay in his music video for “One Proper Nowwith The Weeknd by buying a BAYC NFT by way of the app onscreen. Along with the music video, Malone recorded his buy of two Bored Apes for a mixed 160 Ether (ETH), value roughly $682,000, in TikTok movies sponsored by MoonPay.

Aside from actors and artists, athletes like Paul George, a seven-time NBA All Star and Olympic Gold Medalist, acknowledged that “Crypto and NFTs will likely be key to maximizing the enterprise {of professional} sports activities as we glance forward.”

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When requested how MoonPay plans to onboard the world to Web3, MoonPay’s head of communications Justin Hamilton instructed Cointelegraph that the corporate is “Laser-focused on serving to foster a wholesome ecosystem of companions with dependable fee infrastructure.” He added that one of the best ways to foster adoption is by “Empowering creators to personal their IP and have larger management on their inventive output and monetary assist.” 

Thus far, 10 million prospects throughout 160 international locations have processed near $3 billion in transactions by way of MoonPay by way of greater than 250 companion websites, together with Bitcoin.com and OpenSea, in response to the corporate. 

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