The words “Web3” and “cryptocurrencies” are buzzing in the entertainment industry.
MoonPay, which aims to become the PayPal of crypto, saw its latest funding round joined by some well-known celebrities, including the likes of Steve Aoki, Justin Bieber, Ashton Kutcher’s Sound Ventures, Brie Larson, Gal Gadot, Eva Longoria, Paris Hilton, Bruce Willis, and more. The round fetched over $86 million for the crypto payments firm.
We are thrilled to announce that some of the most influential figures and organizations have collectively invested $80m+ in MoonPay.
Together we will transform Web3 tech & intellectual property.
— MoonPay (@moonpay) April 13, 2022
More than 60 high-profile investors participated in the funding of MoonPay as part of its Series A funding round that took the company’s valuation to $3.4 billion in November last year. At the time, the company raised a whopping $555 million from Coatue, Tiger Global Management, Paradigm, and several other VCs.
MoonPay is a Miami-based payments infrastructure company that lets users exchange fiat currencies and cryptocurrencies using traditional payment methods including credit cards, bank transfers, Google Pay, Apple Pay, and more.
Its solutions are vastly common among celebrities who want to purchase cryptocurrencies and NFTs as it easily facilitates transactions via OpenSea, Coinbase, FTX, and other trading platforms. MoonPay claims to have more than 10 million customers who have processed over $3 billion in transactions through its platform.
— Gwyneth Paltrow (@GwynethPaltrow) January 26, 2022
“Web3 is radically changing how we think about creative value,” said MoonPay’s co-founder and CEO, Ivan Soto-Wright. “We’re on the cusp of a creative crypto renaissance, and our strategic investors are helping to lead that movement. We’re honored to work with them to help onboard the world to Web3.”