Crypto firm MoonPay raises $87 million from Justin Bieber, Maria Sharapova, others
The investors include Justin Bieber, Snoop Dogg
Market sees ‘more and more’ crypto adoption: Expert
Republic Crypto head Andrew Durgee discusses the impact of major retailers accepting cryptocurrencies as a form of payment.
April 13 - Cryptocurrency payments startup MoonPay has raised $87 million from more than 60 high-profile investors including singer Justin Bieber, rapper Snoop Dogg, tennis player Maria Sharapova and actor Bruce Willis as the role of non-fungible tokens (NFTs) in content creation and fan engagement expands.
The investments are part of the firm's Series A round, disclosed in November last year which valued the company at $3.4 billion, MoonPay said on Wednesday.
UKRAINE - 2021/11/22: In this photo illustration, the MoonPay logo is seen on a smartphone screen and in the background. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images / Getty Images)
More than 600 crypto startups have seen over $12.5 billion in venture capital funding so far this year, according to Alex McDougall, managing director at fund manager 3iQ Digital Assets.
MoonPay, which provides payment infrastructure for crypto and NFT transactions, expects content creators to increasingly use NFTs to market their work and engage with fans, chief executive officer Ivan Soto-Wright said.
BARSTOOL'S DAVE PORTNOY: BITCOIN, CRYPTO ‘TOO BIG TO FAIL’ NOW
LOS ANGELES - NOVEMBER 15: CBS presents the 23RD ANNUAL A HOME FOR THE HOLIDAYS AT THE GROVE, Dec. 5 on the CBS Television Network. (Photo by Cliff Lipson/CBS via Getty Images) (Photo by Cliff Lipson/CBS via Getty Images / Getty Images)
NFT is a type of crypto asset that uses blockchain technology to record who owns a digital file, which could be an image, a video or a text.
CLICK HERE TO GET THE FOX NEWS APP
UKRAINE - 2021/11/22: In this photo illustration, the MoonPay logo is seen on a smartphone. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images / Getty Images)
Other investors in the company include rapper Aubrey Drake Graham and Adel Future Nur's company Dreamcrew, Gwyneth Paltrow-led Kinship Ventures, Ashton Kutcher, Guy Oseary-backed venture capital firm Sound Ventures, singer Abel Tesfaye, better known as The Weeknd and his manager Amir Esmailian.