Influential global celebrity Justin Bieber has confirmed his MoonPay investment. Other celebrities who have invested in MoonPay include; Snoop Dogg, Ashton Kutcher, Shawn Mendes, Gwyneth Paltrow, Drake, Matthew McConaughey, Chainsmokers, Jason Derulo, Kate Hudson, Paris Hilton, Eva Longoria, Questlove, and Mindy Kaling, to name a few.
The more than 60 investors have collectively contributed $87 million in the latest funding round. This contribution brings the total capital to $ 555 million, which has skyrocketed the value of the Miami-based startup to $ 3.4 billion.
The celebrity endorsement is expected to spur the adoption of digital assets. The awareness is timely in the current bear market.
MoonPay Is Open To All
The business concept is anchored in offering a solution that makes it easier for all investors to snap opportunities in next-generation Crypto trading, Web 3, and Metaverse. According to the CEO, the services are open for all, and no business request has been turned down.
In a CNBC interview, the MoonPay CEO, Soto-Wright, revealed that the platform aims to be a leader in offering Crypto-as-a-Service. The B2B solution will revolutionize the adoption of Crypto in businesses and allow more firms to accept crypto payments.
Moreover, companies will be able to adopt the non-fungible-tokens (NFTs), which are increasingly becoming synonymous with futuristic business models. NFTs are digital tokens of value backed up by real products or assets such as real estate, art, or products. Popular brands like Nike, Gucci, McDonald’s, Coca-Cola, and the NFL offer NFL which enables them to remind relevant in the dynamic global market.
The Capital Will Fund Expansion
The capital will be used to fund new products that Cryptocurrency users can relate to. The strategic plan will positively contribute to the company’s growth as it aims to expand. With a current customer base of 10 million users in 160 countries, the new initiative will enable the company to onboard more users and expand to more countries.
Users can buy 19 cryptocurrencies such as BTC, XRP, NEAR, and DOGE. The expansion might support other tokens and increase the options for Crypto buyers.
In November, Soto-Wright told CNBC that MoonPay would go public. This move will mark a remarkable milestone where Crypto mergers with the traditional financial market.
MoonPay is a Profitable Venture
MoonPay has been profitable since 2019. This means that the demand for Crypto solutions is steadily rising since investors are motivated by the high returns. Additionally, the solutions offered are tailored for real market needs and hence the reason why in 3 years, the firm has attracted 10 million customers. Therefore, prospective investors can be assured of positive returns in the future as the business is feasible.
Digital assets are a more sustainable store of value than other assets susceptible to economic shocks. Therefore, being part of the Crypto market is a smart way of wealth maximization.