High Profile Names Invest $87m in Crypto Payment Firm MoonPay

Key Insights:

  • Crypto payment shop MoonPay gets the VIP seal of approval with $87m in investments.
  • Investors from the world of media & entertainment, music, and sport have invested with all eyes on Web3,
  • Earlier this year, MoonPay was in the news for purchasing NFTs for celebrity clients.

Investor interest in Web3 shows no sign of abating. Mainstream names have embraced what lies ahead, filing applications for NFT and Metaverse-related trademarks.

Digital asset platforms have also started to build investment divisions targeting Web3.

Following news of Uniswap Labs (UNI) launching Uniswap Labs Ventures to target Web3, MoonPay hit the newswires on Wednesday.

VIPs from Entertainment, Music, and Sport Invest in Moonpay

This week, MoonPay announced the investment of $87 million from high-profile names in entertainment, music, and sports.

According to today’s announcement,

“More than 60 influential figures and organizations from the worlds of music, sport, media, and entertainment have collectively invested $87m in the company.”

Big names from the world of films include Ashton Kutcher, Bruce Willis, Eva Longoria, Gal Gadot, Gwyneth Paltrow, Kate Hudson, and Matthew McConaughey.

Virtual world advocates Snoop Dogg and Justin Bieber were also among the list of high-profile investors.

MoonPay co-founder and CEO Ivan Soto-Wright said,

“Web3 is radically changing how we think about creative value. 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.”

The $87m investment forms part of a $555 million Series A financing round that has funded the launch of NFT Checkout and MoonPay Concierge, which helps high-profile clients purchase NFTs.

Last November, MoonPay was in the news after raising $555 million in Series A funding to take the company’s value to $3.4bn.

MoonPay has seen plenty of media interest in recent months as interest in Web3 accelerates.

MoonPay Activity Draws Media Interest amidst a Rise in Web3 Activity

Following the launch of NFT Checkout and MoonPay Concierge, news hit the wires of MoonPay purchasing CryptoPunk NFTs.

In January, FX Empire reported MoonPay purchasing CryptoPunk #2681 for 900 ETH, equivalent to approximately $3m, at the time of purchase.

This month, MoonPay announced a new partnership with OpenSea, which removed the need for NFT buyers to purchase crypto to make payments. OpenSea will use MoonPay’s NFT Checkout to give OpenSea users better access to NFTs. As a result of the partnership, users can buy OpenSea NFTs with Mastercard, Visa, Apple Pay, and Google Pay.

What is MoonPay?

Launched in 2019, MoonPay supports the buying and selling of cryptos. Users can seamlessly exchange cryptos and fiat using credit and debit cards and payment platforms such as Apple Pay and Google Pay. In addition to cryptocurrencies, MoonPay has also moved into the NFT space in a bid to seize market share, as it did in the cryptocurrency space.