Many celebrities, including Snoop Dogg, Justin Bieber, and Drake, among others, have invested tens of millions of dollars in cryptocurrency startup MoonPay.
One of the most valuable crypto companies in the United States
The celebrities reportedly raised around $87 million. As a result, the company was able to raise $555 million through a funding round. MoonPay is now valued at $3.4 billion, partly due to new funding.
The Miami-based company is developing software that allows users to buy and sell cryptocurrencies. The company is now seen as one of the most valuable cryptocurrency companies in the United States.
A total of 60 investors participated in the latest funding round, including many musicians, sports stars and actors. Many of them have bought cryptocurrencies or NFTs before. MoonPay CEO and Co-Founder Evan Soto-Wright said:
“Hollywood is using smart contracts and blockchain technology to assert its creative intellectual property rights. Major global sports franchises have used digital tokens and NFT collectibles to transform fan engagement. Artists are beginning to explore how non-fungible tokens can give them more control over property rights. These are the foundations of The renaissance of the creative economy.
More than 10 million customers
According to their own numbers, MoonPay already has more than 10 million active customers around the world. These clients use the platform to trade and invest in cryptocurrencies such as Bitcoin, Ethereum, and Sheba. The company's software can also be used to purchase NFTs. Investors stated the following:
“We are excited to invest in MoonPay because we believe their technology is best positioned to make participating in cryptocurrencies even easier.”
