MoonPay CEO and co-founder Ivan Soto-Wright at the 2021 Bitcoin Conference in Miami, Florida.

Eva Marie Uscotegi Bloomberg | Getty Images

What do Justin Bieber, Gwyneth Paltrow, Snoop Dogg and Ashton Kutcher have in common? In addition to being known on List A, they are among more than 60 new investors in the tech startup MoonPay.

Other notable investors include Chainsmokers, Drake, Eva Longoria, Jason Derula, Kate Hudson, Paris Hilton, Matthew McConaughey, Mindy Kaling, Questlow and Sean Mendes. New investors are contributing a collective $ 87 million to a previously announced $ 555 million funding round led by Tiger Global and Coatue, valuing MoonPay at $ 3.4 billion.

Miami-based software, founded in 2018, allows users to buy and sell cryptocurrencies using regular payment methods such as credit cards, bank transfers or mobile wallets such as Apple Pay and Google Pay.

MoonPay also sells its technology to other businesses, including the crypto website and the OpenSea irreplaceable token (NFT) marketplace, exemplary CEO Ivan Soto-Wright calls “crypto-as-a-service”.

NFTs are digital assets that represent real objects such as art, music and real estate, and cannot be reproduced. In the last few months alone, major brands from all industries, including Coca-Cola, McDonald’s, Nike, Gucci and the National Football League, have included NFT in their marketing initiatives.

“Many companies can open a very small portion of their rounds, but we wanted to take on significant checks from these people because we want them to be part of that story and shape the direction of the product,” Soto-Wright told CNBC.

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In particular, as for the artists, they do not want to tour forever, so they are increasingly diversifying, he said.

“A lot of them have venture capital portfolios, a lot of them have their own independent businesses, and we came to them and said,‘ We can help you understand the possibilities around Web3, the crypto and the metaworld, ’” Soto-Wright said. “We had almost no failures. Everyone wanted to be a part of it. “

MoonPay says it has become profitable since the launch of its platform in 2019. Now its services are used by more than 10 million customers in 160 countries.

However, investors find it difficult to see value in digital art and are embarrassed by big sales, such as Beep’s work, which was sold at Christie’s for $ 69 million.

Looking ahead, the company plans to spend the money raised on new products and expansion. He also has ambitions to accept the business of the public.

“We have a desire to eventually become an open company,” Soto-Wright told CNBC in November.

However, cryptocurrencies are known to be volatile, and this has affected even the most prominent players in the space. Earlier this week, bitcoin fell below $ 40,000, for the first time since mid-March.

– CNBC Ryan Brown contributed to this report.

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