Cryptocurrency payment platform MoonPay recently announced that it has raised $87 million from around 60 A-list celebrities. Investors include singers like Justin Bieber and Snoop Dogg, tennis player Maria Sharapova, and actors like Bruce Willis, Ashton Kutcher and Gwyneth Paltrow.
In raising funds, MoonPay attempted to expand the role of non-fungible tokens by increasing fan engagement through content creation. MoonPay got 16% of the funding from celebrities alone.
MoonPay raised a total of $555 million in Series A funding, led by Tiger Global Management and Coatue Management, in November of last year. At the current time, the cryptocurrency startup is valued at $3.4 billion after the completion of the recent funding round.
Other celebrities on MoonPay’s investment list
Other investors in the cryptocurrency company include Drake, Eva Longoria, Jason Derulo, Kate Hudson, Paris Hilton, Matthew McConaughey, Mindy Kaling, Questlove and Shawn Mendes, The Chainsmokers, among many other influential investors.
MoonPay was founded in 2018, the company is based in Miami. The cryptocurrency platform allows users to buy and sell cryptocurrencies using conventional payment methods such as debit cards, credit cards, and bank transfers or even mobile wallets.
The platform also accepts payments through Google Pay and Apple Pay. MoonPay, which also provides payment infrastructure for crypto and NFT transactions, facilitates transactions between individuals and crypto businesses and has sold its technology to Bitcoin.com and NFT marketplace OpenSea.