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Why Hollywood stars are speeding to the “PayPal of the crypto world”


Actually, it’s a cumbersome factor that the crypto scale-up MoonPay from Miami affords: If Internet providers like Bitcoin.com or OpenSea need their prospects to purchase crypto property or NFTs, they’ll use the providers of the founders’ firm Ivan Soto-Wright and Victor Faramond. This has already earned Moonpay a whopping $3.4 billion valuation in 2021 and a fame because the “PayPal of the crypto world.”

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MoonPay has now arrived in Hollywood. Celebrities like Justin Bieber, Jason Derulo, Bruce Willis, Paris Hilton, Gwyneth Paltrow, and Matthew McConaughey have invested a complete of $86.7 million. Incidentally, Hilton now sees itself as a “pioneer in television, podcasting and NFTs” – and MoonPay suits nicely into the portfolio.

MoonPay’s valuation stays at $3.4 billion, which is along with the $555 million that prime lenders together with Tiger Global, Coatue, Blossom Capital, Thrive Capital, Paradigm, and NEA pumped into the corporate in 2021. MoonPay is some of the invaluable and well-funded startups within the crypto business (see listing beneath).

MoonPay helps NFT buy

Why are Hollywood and pop stars immediately so eager on the crypto world and MoonPay particularly? Because MoonPay has turn out to be an indispensable a part of the NFT and crypto world. The cost firm typically has its fingers within the pie the place non-fungible tokens and crypto property are traded. Many stars first got here into contact with MoonPay once they bought their first Bored Ape Yacht Club NFTs utilizing the corporate’s providers. With OpenSea, they might have needed to change ethers first, however MoonPay did the work for them. Paltrow, Hilton, Snoop Dogg, Post Malone and Lil Baby are mentioned to have used MoonPay to purchase BAYC NFTs.

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MoonPay is built-in into OpenSea, Sorare, Bitcoin.com, Binance, OKEx, Coinbase, and FTX, for instance, and ensures that fiat cash is accurately transformed into cryptocurrencies (on and off-ramp) and that NFTs might be simply purchased with a bank card. MoonPay not solely helps Ethereum for NFTs, but additionally different blockchains equivalent to Polygon, Flow, Solana, and Tezos.

According to the corporate, round 10 million prospects have processed nearly $3 billion in transactions via MoonPay thus far. In the meantime, MoonPay will not be solely energetic within the B2B enterprise but additionally sells crypto property instantly to finish customers. As within the B2B enterprise, the corporate takes a small proportion as a payment – and may make an excellent residing from it. With the distinguished buyers on board, it’s now conceivable that the corporate will develop much more strongly within the path of the B2C market – in any case, the mandatory advertising and marketing energy is now within the cap desk.



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