Crypto startup MoonPay declared that it has brought up $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 contribution of NFTs in content development and fan interaction expands, according to a Reuters report.
The contributions are part of MoonPay’s Series A round, which was announced in November last year and valued the organization at $3.4 billion, according to the company.
“NFTs and Web3 technology will change the entertainment sector,” Michael Ovitz, co-founder of CAA and former President of The Walt Disney Company, said.
According to a MoonPay announcement, “MoonPay is helping to power that shift by lowering the barrier to entry into the crypto economy, and I’m pleased to join them on that path.”
NFT is a sort of crypto asset that employs blockchain technology to track who holds a digital file, which might be a picture, video, or text. According to Alex McDougall, managing director of fund management 3iQ Digital Assets, approximately 600 crypto businesses have received over $12.5 billion in fundraising this year.
Content producers will increasingly utilise NFTs to sell their work and communicate with followers, according to Ivan Soto-Wright, CEO of MoonPay, which offers payment systems for crypto and NFT transactions.
Other Investors of MoonPay
Other investors include rapper Aubrey Drake Graham and Adel Future Nur’s Dreamcrew, Gwyneth Paltrow’s Kinship Ventures, Ashton Kutcher’s Sound Ventures, and musician Abel Tesfaye, commonly known as The Weeknd, and his manager Amir Esmailian.
