Snoop Dogg and Drake are among the celebrities that contributed to crypto firm MoonPay's $87 million funding round.


Celebrities from the fields of music, sports, and entertainment backed MoonPay with large contributions in its recent funding round. 

According to Independent, 60 celebrities, including rappers Snoop Dogg and Drake, helped raise $87 million for the Miami-based company. Justin Bieber, Jason Derulo, Questlove, Gwyneth Paltrow, and others were among the investors. 

MoonPay recently raised $555 million in funding, boosting its total worth to $3.4 billion. 

Many of the celebs engaged, according to the publication, were already familiar with Bitcoin. 

According to Independent, "Hollywood is using smart contracts and blockchain technology to assert their creative intellectual property rights." Ivan Soto-Wright, CEO and co-founder of MoonPay, said, "Hollywood is using smart contracts and blockchain technology to assert their creative intellectual property rights." 

"Digital tokens and NFT artifacts have been employed by major global sports organizations to transform fan engagement," he continued. Recording artists are also starting to look into how NFTs can give them more control over their royalties. These are the foundations of a resurgence of the creator economy." 

MoonPay is "one of the most valuable crypto startups in the US," according to Forbes, with its previous two investment rounds bringing in millions and more than 10 million customers globally.



Source: Yahoo News

Post a Comment

0 Comments