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NFT-crazed celebs pump $87m into MoonPay

NFT-crazed celebs pump $87m into MoonPay

Dozens of famous faces, including Bruce Willis, Drake and Paris Hilton, have invested in MoonPay, buying into the crypto payments platform's promise of helping celebs reap the benefits of Web3.

More than 60 high-profile investors have invested a total of $87 million as part of MoonPay's previously announced $555 million Series A round, which values the company at $3.4 billion.

MoonPay provides firms in the crypto space KYC, payment processing, liquidity and delivery, fraud prevention, regulatory licenses, ecosystem identity verification, and custom checkout flows.

It has also become a major player in the NFT sector, where marketplaces such as OpenSea trust it to provide users a simple, fast and safe way to buy and sell any digital asset. Earlier this year, the firm released a plug-and-play service for buying and selling NFTs with a credit card.

The NFT angle has attracted celebrity users: MoonPay investors including Gwyneth Paltrow, Snoop Dogg and Post Malone have tapped the company's concierge service to buy Bored Ape Yacht Club NFTs.

Says MoonPay CEO Ivan Soto-Wright about the famous investors: "We're on the cusp of a creative crypto renaissance, and our strategic investors are helping to lead that movement. We're honored to work with them to help onboard the world to Web3."

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