Wednesday, September 28, 2022
HomeBusinessCrypto Startup Raises Funds From Maria Sharapova and Other High Profile Investors

Crypto Startup Raises Funds From Maria Sharapova and Other High Profile Investors

Cryptocurrency payments startup MoonPay has raised $87 million in funding from over 60 high-profile investors including singer Justin Bieber, tennis player Maria Sharapova and actor Bruce Willis. This is part of the Series A round of funding for this firm. Information about this funding round was given last year. For this, the firm has been valued at about $3.4 billion.

So far this year, more than 600 crypto startups have secured over $12.5 billion in venture capital funding, said Alex McDougall, managing director of fund manager 3iQ Digital Assets. crypto And Ivan Soto-Wright, chief executive officer of MoonPay, which provides the payment infrastructure for NFT transactions, expects content creators to increase their use of NFTs to market their content and engage with fans. Other investors in the firm include Gwyneth Paltrow-led Kinship Ventures and Ashton Kutcher.

The popularity of NFTs has increased in recent months. Sports clubs, automobile companies and pop stars are also getting into this business. in NFT blockchain The technology is used to authenticate tokens of unique items that are linked to reproducible digital assets. These can include art, music, in-game items, and videos. These can be traded online but cannot be duplicated. With the increase in the business of NFTs, the cases of scams related to them have also increased. In some such cases, NFT buyers have suffered huge losses.

Last month, two people were arrested in the US for money laundering and fraud with NFT series. These people had caused a loss of around $11 million to the buyers before leaving their NFT project. Such cases are called ‘Rig Pull Scams’, in which NFT projects or cryptocurrencies from creators quickly disappear after being sold. The US Treasury Department is starting a campaign to inform people about the risks associated with the crypto segment. The Department’s Financial Literacy Education Commission will prepare materials for this and inform people about the working of crypto assets and the risks associated with it.

- Advertisement -


Two Wheeler


Digit News