Business
Snoop Dogg And Drake Helping MoonPay Fuel its Latest Funding Round
April 18, 2022 · Updated June 17, 2022·By B.J. Strawter, Jr.
It’s been quite a ride for MoonPay, the Miami-based crypto company launched in 2019 with the singular goal of increasing cryptocurrency adoption. Co-founders Ivan Soto-Wright and Victor Faramond wanted to build a simple
April 18, 2022 · Updated June 17, 2022
It’s been quite a ride for MoonPay, the Miami-based crypto company launched in 2019 with the singular goal of increasing cryptocurrency adoption. Co-founders Ivan Soto-Wright and Victor Faramond wanted to build a simple software solution giving people globally a chance to participate in the crypto explosion. The company is now valued at over three and a half billion.
One of the ways the company has advanced its profile has been to get celebrity investors from Gwyneth Paltrow to Justin Bieber to participate.
During MoonPay’s recent funding round, 60 stars and influencers, including Snoop Dog and Drake, have taken part in a massive $87 million raise for the company, which has also gotten heavily into the non-fungible token (NFT) business.
One thing unites investors like Bieber and Drake. They’ve already dabbled in crypto. Snoop Dogg invested in Yuga Labs’ $450 million seed funding round in March and Drake has been an enormous advocate for bitcoin.
“Hollywood is using smart contracts and blockchain technology to assert their creative intellectual property rights,” Ivan Soto-Wright, CEO and co-founder of MoonPay, told the Independent. “Major global sports franchises have used digital tokens and NFT collectibles to transform fan engagement. And recording artists are beginning to explore how NFTs can give them more control over royalty rights. These are the underpinnings of a creator economy renaissance.”
Learn more about MoonPay at www.moonpay.com
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