GLOBAL MUSIC, SPORTS, MEDIA & ENTERTAINMENT HEAVYWEIGHTS INVEST $87 MILLION IN MOONPAY
More than 60 high profile strategic investors believe Web3 will transform art, fan engagement, intellectual property & creative value
USA, April 13, 2022 (GLOBE NEWSWIRE) — APRIL 13th, 2022 — MIAMI: Today, MoonPay, the leading global crypto payments infrastructure provider, announced that more than 60 influential figures and organizations from the worlds of music, sports, media & entertainment have collectively invested $87 million in the company. The strategic investors represent industries on the cusp of transformation by Web3 technology, which is changing the way creatives, artists, and athletes approach art, fan engagement, and intellectual property management.
Named investors include the following (in alphabetical order by first name):
* Kinship Ventures LP
“NFTs and Web3 technology will revolutionize the business of entertainment,” said Michael Ovitz, co-founder at CAA, and former President at The Walt Disney Company. “Consumers are seeking new ways to consume entertainment and engage with their favorite creators — and the creators themselves want different ways of owning and sharing their creative output. MoonPay is helping to power that change as it lowers the barrier of entry to the crypto economy, and I’m excited to join them on that journey.”
“Web3 is inspiring the entertainment industry, and commerce in general, to reimagine the way we create community, connect with fans, build value and manage intellectual property,” said Gwyneth Paltrow, Co-Founder of Kinship Ventures. “We are excited to invest in MoonPay because we believe their technology is best positioned to make participating in cryptocurrency more accessible.”
“Crypto and NFTs are critical components in the growth and development of the creator economy,“ said Guy Oseary, Co-Founder of Sound Ventures. “As creators more consciously carve out their space and communities in Web3, MoonPay’s innovative platform is a bridge between the status quo and the future. MoonPay is an accelerator for industry-changing ideas, and I’m excited to see what comes next.”
“In the ever-changing sports landscape, it’s important to keep an eye toward the future,” said Paul George, seven-time NBA All Star and Olympic Gold Medalist. “Crypto and NFTs will be key to maximizing the business of professional sports as we look ahead, and I’m excited to be a key contributor as one of MoonPay’s strategic investors.”
“NFTs and Web3 are the next frontiers of where music is going,” said Steve Aoki, Grammy-nominated DJ, producer, and founder of A0K1VERSE. “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. I’m excited to invest in MoonPay because I think they will play a vital role in moving all of this forward.”
“Web3 is radically changing the way we approach the business of entertaiment, sports and music,” said Ivan Soto-Wright, CEO and Co-founder of MoonPay. “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. And our strategic investors are helping to lead that movement. We’re honored to work with them to help onboard the world to Web3.”
Notes to Editors
MoonPay’s suite of payments infrastructure products provides a seamless way for people to buy and sell cryptocurrencies and NFTs. It brings the easy-to-use experience consumers have come to demand from traditional e-commerce to Web3. Ten million customers across 160 countries have processed close to $3 billion in transactions on the MoonPay platform through more than 250 partner sites, including Bitcoin.com and OpenSea.
MoonPay’s $555 million Series A financing round led by Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA valued the company at $3.4 billion. The funding has allowed MoonPay to grow its global footprint through new products like NFT Checkout and MoonPay Concierge, and through new partnerships with leading organizations like OpenSea, Michael Jordan’s “Heir Jordan,” Tom Brady’s Autograph, and FaZe Clan.
MoonPay is the world’s leading global crypto payments infrastructure provider. Leading marketplaces worldwide are providing their users with a simpler way to buy and sell NFTs using MoonPay’s industry-first NFT Checkout solution, which allows the purchase of NFTs instantly with a credit or debit card. The company is active in more than 160 countries and is trusted by 250+ leading wallets, websites, and applications.
For more information, visit: https://www.moonpay.com
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