Over 60 Public Figures Invest $87M in Crypto Payments Startup MoonPay

In November 2021, MoonPay announced a $555 million Series A funding round, valuing the encrypted payment platform at $3.4 billion. On Wednesday, the fintech company revealed that $87 million of the $555 million total came from more than 60 public figures and celebrities in the music, sports, media and entertainment industries.

While the Series A round was led by firms such as Tiger Global Management and Coatue, with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the following household names were also considered strategic investors: Gwyneth Paltrow Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey and Bruce Wayne Bruce Willis. Other "industry VIPs" such as Ashton Kutcher, Justin Bieber, Snoop Dogg, Paris Hilton and Steve Steve Aoki (Steve Aoki), have been deeply involved in the field of cryptocurrency and NFT.

The funding and continued investor support will allow it to accelerate its international expansion, grow its team and bring in new partners, the company said. MoonPay's long-term goal is to enable the next billion people to use cryptocurrencies by 2030.

MoonPay is best known for allowing users to purchase cryptocurrencies and NFTs with credit or debit cards, bank transfers or mobile wallets on Apple Pay and Google Pay. The investments have allowed the fintech startup to develop new products like NFT Checkout and MoonPay Concierge, a referral-based service for high-net-worth individuals who pay to buy cryptocurrencies and NFTs on their behalf. For example, when actress Gwyneth Paltrow wanted to participate in an NFT event for "Bored Ape Yacht Club, BAYC," she went to MoonPay and thanked the company via Twitter.

Paltrow, who is also co-founder of Kinship Ventures, said in a statement: "Web3 is inspiring the entertainment industry and the business world at large to reimagine the way we create community, connect with fans, build value and manage intellectual property. . "

Rapper Post Malone even promoted MoonPay by purchasing BAYC NFTs through the on-screen app in his music video for "One Right Now" with The Weeknd. In addition to the music video, Malone also recorded in a TikTok video sponsored by MoonPay that he purchased two Bored Apes for 160 ETH, worth approximately $682,000.

In addition to actors and artists, athletes such as seven-time NBA All-Star and Olympic gold medalist Paul George recognize that “as we look to the future, cryptocurrencies and NFTs will be key to maximizing the business of professional sports.”

When asked how MoonPay plans to engage the world with Web3, MoonPay’s director of communications, Justin Hamilton, told Cointelegraph that the company is “focused on helping to build a healthy ecosystem of partners through reliable payment infrastructure.” The best way to boost adoption, he added, is "to give creators ownership of their intellectual property and greater control over their creative output and financial support."

To date, 10 million customers in 160 countries have processed nearly $3 billion in transactions through MoonPay through more than 250 partner sites, including Bitcoin.com and OpenSea, according to the company.