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High Profile Celebrities Pouring $87 Million In Crypto Payment Firm Moonpay

Top celebrities like, Justin Bieber, Snoop Dogg, Maria Sharapova and actor Bruce Willis have bet their investment on Moonpay.

High Profile Celebrities Pouring $87 Million In Crypto Payment Firm Moonpay

MoonPay, a cryptocurrency payments company, has raised $87 million in funding from more than 60 high-profile investors, including musicians Justin Bieber and Snoop Dogg, tennis champion Maria Sharapova and actor Bruce Willis, as the importance of non-fungible tokens (NFTs) in content creation and fan engagement continues to grow.

MoonPay revealed on Wednesday that the investments are part of the company’s Series A round of financing, which was announced in November last year and valued the company at $3.4 billion.

A total of more than 600 cryptocurrency startups have received more than $12.5 billion in venture capital funding this year, according to Alex McDougall, managing director of investment management at 3iQ Digital Assets.

It is predicted that content creators will increasingly use NFTs to sell their work and engage with their followers, according to Ivan Soto-Wright, CEO of MoonPay. This company provides payment infrastructure for cryptocurrency and non-fiat transactions.

Inflation-proof Token (NFT) is a cryptocurrency that makes use of blockchain technology to monitor who owns digital material such as a photograph, video, or piece of text.

Among the company’s other shareholders are rappers Aubrey Drake Graham and Adel Future. In addition to Nur’s startup Dreamcrew and Gwyneth Paltrow’s Kinship Ventures, Sound Ventures, Ashton Kutcher’s Sound Ventures, and Guy Oseary’s Sound Ventures, the Weeknd, also known as Abel Tesfaye, and his manager Amir Esmailian are all engaged.

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