Several celebrities, including Snoop Dogg, Justin Bieber and Drake, have invested tens of millions of dollars in crypto startup MoonPay.
One of the most valuable crypto companies in the US
The celebrity has reportedly raised around $87 million. As a result, the company raised $555 million through a financing round. MoonPay is now valued at $3.4 billion, due in part to new funding.
The Miami-based company is developing software that allows users to buy and sell cryptocurrencies. The company is now considered one of the most valuable crypto companies in the United States.
In total, 60 investors took part in the latest funding round, including many musicians, sports stars and actors. Many of them have purchased cryptocurrency or NFT before. MoonPay CEO and Co-founder Evan Soto-Wright said:
Hollywood uses smart contracts and blockchain technology to assert their creative intellectual property rights. Major global sports franchises have used digital tokens and NFT collectibles to transform fan interaction. And artists began to explore how NFT could 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 worldwide. These clients use the platform to trade and invest in cryptocurrencies such as Bitcoin, Ethereum, and Shiba. 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 the best in making it easier to participate in cryptocurrency.”
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