MoonPay receives $87m funding from entertainment and sporting stars

A slew of entertainment, media and sports personalities have together invested $87 million in US crypto paytech and infrastructure provider MoonPay.

MoonPay raises $87m from a host of famous faces

MoonPay aims to marry traditional e-commerce with Web3, “changing the way creatives, artists and athletes approach art, fan engagement and intellectual property management”.

Such luminaries as Die Hard’s Bruce Willis, Wonder Woman Gal Gadot and hip-hop legend Snoop Dogg are among those to invest in the firm.

Tennis star Maria Sharapova, A-lister and Gooper Gwyneth Paltrow and art-dealer Larry Gagosian also feature in the list of more than 60 influential cultural figures who have stumped up cash.

MoonPay CEO and co-founder Ivan Soto-Wright says: “Web3 is radically changing the way we approach the business of entertainment, sports and music.”

Smart contracts, blockchain technology, digital tokens and Non-Fungible Tokens (NFTs) “are the underpinnings of a creator economy renaissance”, Soto-Wright says.

MoonPay provides the necessary infrastructure to buy and sell cryptocurrencies and NFTs, including its NFT Checkout solution, which allows users to buy NFTs with a debit or credit card.

MoonPay boasts 10 million users across 160 countries and claims to have processed approximately $3 billion worth of transactions.

In November, MoonPay closed a $555 million Series A financing round led by Tiger Global Management and Coatue, with participation from Blossom Capital, Thrive Capital, Paradigm and NEA.

The Series A pegged the company’s post-money valuation at $3.4 billion a mere two-and-a-half years after its inception.

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