The application is positioned as the leader of crypto payments for more than 60 celebrities.
The MoonPay app is already called as the new “PayPal of cryptocurrencies”.
Artists endorse Web3 technology for accelerated growth of NFTs.
A large number of famous people start to believe and invest in the new digital ecosystem, with an eye to the “creative crypto renaissance” that drives a relatively young crypto startup.
It will be MoonPay, a crypto payment firm that has so far raised $87 million from almost 60 celebrities from the media, sports and entertainment worlds such as Snoop DoggBruce Willis, Justin BieberAnthony Kiedis, Ashton KutcherSteve Aoki, Gwyneth PaltrowMaria Sharapova, The WeekndGal Gadot, Diplo, Matthew McConaughey and many more.
“Web3 is radically changing the way we think about creative value. We are on the cusp of a creative crypto renaissance, and our strategic investors are helping lead that movement. We are honored to work with them to help the world get on Web3,” Ivan Soto-Wright, the app’s co-founder and CEO, said in a statement.
The “PayPal of cryptocurrencies” It disclosed that the financing is part of its $555 million Series A round, which already valued MoonPay at $3.4 billion in November. Today with important associations already established, such as those secured with OpenSea; “Heir Jordan” by Michael Jordan; Autograph, by Tom Brady and Clan FaZe, the app managed to grow its global presence and launch new products, such as NFT Checkout, an NFT solution that allows users to purchase the acclaimed Non-Fungible Tokens with a credit or debit card.
This is because NFTs are more than just JPEGs and provide a way for artists and creators to manage royalties, leaning heavily on strategies for the emerging blockchain-based web, or Web3.
MoonPay earns the trust of Hollywood
The digital collectible market has grown as one of the great indicators that investment in cryptocurrencies and NFTs are the future; however, generating payment facilities for first-time buyers is a plus that drives the Web3 ecosystem.
“They are paying with credit cards. This is fantastic for the industry as we strive to attract the next billion participants. If this trend continues, we expect products like MoonPay to find more demand beyond today’s early crypto NFT buyers.because it’s as easy to buy an NFT as it is to buy your coffee at Starbucks,” said Alex DiNunzio, CEO of Jambbto Bloomberg.
And it is that for experts, the less a consumer has to understand about a blockchain or the mechanics of how cryptocurrencies work, then the more likely they are to interact with a product, which is why they trust the “Hollywood app” , where working with celebrities on the funding round will help get global fans more interested in developing products in the Web3 world.
“MoonPay definitely seems to fall into the first camp: Justin Bieber, Maria Sharapova, Snoop Dogg, Drake and other big household names are investing to drive adoption of an app dedicated to simplicity. That is probably good for the mass adoption of crypto.”
“Certainly, as a startup founder in the space, I can say that better payment solutions for crypto are needed, so I wouldn’t be surprised to see many more MoonPay-like announcements in the coming months and years,” said Colin Zarzour, head of operations koi.
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