Crypto payments provider MoonPay announced some of the world’s most influential figures and organizations from music, sports, media, and entertainment have collectively invested $86.7 million in the company.
The strategic investors represent industries on the cusp of transformation by web3 technology, changing the way creatives, artists, and athletes approach art, fan engagement, and intellectual property management.
Investors include high-profile names such as Ashton Kutcher, Bruce Willis, Eva Longoria, James Corden, Justin Biber, Sam Feldt, Scooter Braun, Paris Hilton, and Steve Aoki, who commented that:
“NFTs and Web3 are the next frontiers of where music is going. Whether you’re a musician or a creator, this technology will expand your reach and the way you connect with fans more deeply. It won’t be enough to release new drops and hope it works; you’ve got to be way more participatory. Web3 makes that possible.”
The combined investment from over 60 high-profile investors point to a rising belief in the value of Web3 to transform entertainment and enhance the value for creators worldwide.
Many artists and musicians are using NFTs to engage with their fans directly. Web3 is rapidly changing how artists are paid and introducing new ownership models that empower entertainers.
MoonPay CEO and co-founder Ivan Soto-Wright said:
“Hollywood is using smart contracts and blockchain technology to assert their creative intellectual property rights. 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.
Moonpay is focused on simplifying access to NFTs and providing leading NFT marketplaces with more accessible ways of connecting with the general public. The company has 10 million customers across 160 countries.
MoonPay is currently valued at more than $3.4 billion. It raised $555 million in its Series A financing round at the end of 2021.