MoonPay, a Crypto Payment Company, Secures $87M for Hollywood Celebrities

Hollywood’s A-list has contributed over $87 million of the $555 million platform investment to crypto payment platform, Moonpay.

Celebrity investors include Ashton Kutcher and Steve Aoki, Justin Bieber and Gwyneth Paltrow as well as Justin Bieber, Diplo, Maria Sharapova (Drake), Post Malone, Mindy Kaling, Bruce Willis and Mindy Caling.

Coatue and Tiger Global, both venture capital giants, were the two main contributors to the $555million round of fundraising. The company’s current value is approximately $3.4 billion.

The site has been used by many celebrities and entertainers, including Diplo, Martin Garrix and Future. They were impressed by the ease of handling web3 and blockchain-based operations.

Many celebrities on MoonPay’s investor list, including Justin Bieber and Paris Hilton, have ventured into NFTs in the last year. Since then, they’ve made a series of large-scale digital image purchases totaling millions of dollars.

According to the most recent investments, celebrities are increasingly interested in crypto-focused financial technologies.

NFTs and blockchain technology have the potential for revolutionizing music, fashion and gaming.

MoonPay CEO Ivan Soto Wright says NFTs are more than JPEGs. He believes they make it simpler for artists and creators, to earn royalties. They are looking for help in implementing their web3 plans, or blockchain-based internet.

Soto-Wright stated, “MoonPay sees a whole different format for the entertainment sector.” “My notion was, let’s establish a diverse portfolio of wonderful people who represent many businesses, and let’s speak about the scenarios for their intellectual property,”She said.

The emergence of this new financial institution correlates with artists’ ability to obtain funding, control their intellectual property, and sell their products to people without the use of middlemen.

Despite the widespread adoption of crypto and celebrity endorsements, these adverts remain silent on an issue most businesses neglect: significant volatility as well as investment risks.

Many people working in the media have commented on cryptocurrency recently, including those of their partners and companies.

According to a new report, celebrities and the cryptocurrency sector have become a match made for hell. Celebrities are increasingly being invited to promote cryptocurrency.

The Securities and Exchange Commission (SEC), has created phony cryptocurrency recommendations and suggestions from well-known people who claim to be having ventured into cryptocurrency to counter the success rates.

In Indonesia, cryptocurrency trading has seen a surge in popularity over the past few years. Around 4% of Indonesians have invested in cryptocurrency.

In addition, Indonesian celebrities, influencers, and businessmen have been more involved with local crypto investing businesses since 2021.

Numerous celebrities have been appointed brand ambassadors for Bitcoin companies to market and increase trade volume.

Celebrity tokens have seen a surge in popularity since Anang Hermansyah, an Indonesian musician, introduced his own currency.

As a result, celebrities and influencers are creating their own NFTs or cryptocurrency businesses.

As celebrities promote and build crypto businesses, regulators are taking action to protect investors against fraudulent transactions.

MoonPay is a payment portal that allows customers purchase digital coins and other web3 products with traditional payment methods.

MoonPay bills itself as a “Paypal for the cryptocurrency economy,” permitting transactions between individuals and cryptocurrency businesses such as NFT purveyors.

Apple Pay, Samsung Pay and credit and debit cards are available for users to trade digital assets and NFTs via the site.

It offers an innovative way to buy bitcoins and cryptobacked goods. Because of the technology’s revolutionary nature, MoonPay has already secured $555 million in its pioneer financing round.

Up to 600 cryptocurrency businesses have raised more than $12.5 million in venture capital funding by 2022.

Famous people are leading the charge when it comes to investing within the blockchain industry. Celebrities such as Kim Kardashian and Matt Damon are promoting cryptocurrencies.

As a result, celebrities and influencers are creating their own NFTs or cryptocurrency businesses.

As celebrities promote and build crypto businesses, regulators are taking action to protect investors against fraudulent transactions.

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