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Snoop Dogg And Drake Among Celebrities Who Invested In Crypto Firm MoonPay's $87M Funding Round

In MoonPay’s recent funding round, celebrities from the worlds of music, sports, and entertainment backed the crypto firm with hefty investments. According to Independent, 60 stars including rappers Snoop Dogg and Drake participated in a whopping $87 million raise for the Miami-based firm. Fellow investors also included Justin Bieber, Jason Derulo, Questlove, Gwyneth Paltrow, and more. The announcement follows MoonPay’s $555 million round — bringing its valuation to $3.4 billion. The outlet discloses that many of celebrities involved already had familiarity with cryptocurrency. “Hollywood is using smart contracts and blockchain technology to assert their creative intellectual property rights,” said Ivan Soto-Wright, CEO and co-founder of MoonPay, according to Independent. He added: “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...

Ngozi Nwanji

Apr 13, 2022