Paltrow, Bieber, Snoop Dogg are interested in buying NFTs: 60 American stars invest in MoonPay crypto startup

American startup MoonPay is popular when it comes to buying digital assets with credit and debit cards. Well-known trading platforms such as Coinbase, FTX or the NFT marketplace OpenSea rely on MoonPay. According to this cryptocurrency startup, it has 10 million customers who have processed $3 billion worth of transactions using the service.

However, MoonPay became truly famous thanks to the stars who bought NFT Bored Ape and then thanked the payments startup on Twitter. And they are so grateful that now they even invest in a startup. The injection adds $87 million in new capital to the company’s $555 million funding round announced last year — MoonPay’s November 2021 valuation was $3.4 billion.

In total, according to US media reports, there are more than 60 new investors. Many of these celebrities have previously purchased their non-fungible tokens from the Bored Ape collection through MoonPay, thus skipping the process of acquiring Ethereum. MoonPay buys the cryptocurrency needed for the NFT and receives the digital asset, then bills the buyer, who pays by bank transfer or credit card. That is, Hollywood stars such as Paltrow, Bieber and Snoop Dogg do not need to get involved with bitcoin or Ethereum (as a rule, transactions occur with the second cryptocurrency).

A major Series A round reported in November was led by Tiger Global and Coatue. The startup, founded in 2019, wants to use the new capital to expand the team – also in the startup’s plans for an IPO (going public). MoonPay currently brings together at least 260 service providers in over 160 countries.

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