Justin Bieber, Gwyneth Paltrow and Ashton Kutcher Are Among Dozens Of Celebrity Investors Piling Into Crypto Startup MoonPay
Justin Bieber, Gwyneth Paltrow, Snoop Dogg, and Ashton Kutcher are among dozens of celebrity investors piling into crypto startup to become members of Fintech startup MoonPay by investing in it.
The firm assists individuals with bank transfers, mobile wallets, and mobile wallets or Gpay and Apply Pay to own cryptocurrencies using these methods of transactions. The company’s valuation was around $3.4 billion according to its initial financing round initiated by Tiger Global and Coatue in November.
Justin Bieber, Gwyneth Paltrow, Snoop Dogg, and Ashton Kutcher once again remark their presence in the industry by becoming 4 out of only 60 celebrities who have ever invested in a financial technology startup.
Chainsmokers Drake, Eva Longoria, Matthew McConaughey, Mindy Kaling, Jason Derulo, Kate Hudson, Paris Hilton, Questlove, and Shawn Mendes are other celebrity participants of the startup. In the total valuation of $3.4 billion by Coatue and $555 million in Monday Startup, a considerable share of $87 billion belongs to all the new investors.
The MoonPay was established in 2018 and originated in Miami. This platform allows users with traditional payment methods like credit cards, bank transfers, or mobile wallets like Apple Pay and Gpay to avail or give away cryptocurrencies.
MoonPay also sells its technology to other companies, such as Bitcoin.com and the non-fungible token (NFT) marketplace OpenSea, in a strategy that CEO Ivan Soto-Wright refers to as “crypto-as-a-service.” NFTs refer to intellectual properties which can’t be replaced. Within a shorter period, it has been successfully traced that big brands like Coca-Cola, McDonald’s, Nike, Gucci, and the National Football League, are implementing NFTs as one of their marketing strategies.
As per reports, many companies restricted themselves from disclosing their financial balances, but still, the analyst tried their best to fetch information from them to analyze. If we come to artists, they do not wish to linger around for a longer; thus, they forward expand their services. The majority of the companies have their portfolios, so we suggested they have our advice on metaverse and Crypto, to which almost everyone agreed. MoonPay has seen great success from the very day of its launch, and the company hopes for expansion and growth.