MoonPay completed a Series A of $555 million with an investment round featuring Gwyneth Paltrow and Gal Gadot.
What does Questlove, Matthew McConaughey and Gwyneth paltrow have in Common?
They’ve all appeared on “The Tonight Show.” They are all now investors in MoonPay as of today.
MoonPay today announced that they have joined Justin Bieber and Ashton Kutcher’s Sound Ventures, Brie Lson, Gal Gadt, Eva Longoria and Paris Hilton in providing $86.7million in funding for the payments infrastructure company. Bruce Willis even pitched in.
MoonPay says that strategic investors are industries at the edge of transformation using Web3 technology.
Paltrow, who already promotes Bitcoin payments for Cash App, put it in a press release: “Web3 inspires the entertainment industry, commerce in general to reimagine how we create community and connect with fans. Build value and manage intellectual property.”
Aoki, who has been building his brand through Ethereum NFTs, the metaverse and other means, stated, “It won’t suffice to release [NFT] drops, and hope it works. You have to be far more participative.” Web3 makes it possible.
MoonPay was established in 2019 and has seen a rapid rise. It raised $555million in Series A funding led by Coatue, Tiger Global Management and brought its total value to $3.4 billion. It claims to have 10 million users in 160 countries.
It integrates with other crypto services, allowing users to buy crypto using a debit or credit card. This service facilitates OpenSea NFT transactions and is perhaps best known for its ability to facilitate celebrity purchase of Bored Apes. It facilitates transactions on Bitcoin.com as well as purchases on many other platforms. MoonPay is the easiest way to purchase a token that’s not yet on Coinbase, or any other major exchanges.
Many investors have noted this ubiquitousness and ease-of-use.
Michael Ovitz, cofounder of Hollywood powerhouse Creative Artists Agency which represents many of the investors, praised MoonPay’s technology, saying that it “lowers the barrier to entry to the cryptocurrency economy.”