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MoonPay Concierge Service Helps Members Purchase NFTs
04/03/22

MoonPay Concierge Service Helps Members Purchase NFTs

Fintech company MoonPay offers a crypto ‘concierge service’ that handles the sourcing and purchasing of digital collectables and blockchain-based assets. 

MoonPay lets users buy cryptocurrencies and other web3 digital assets using traditional payment methods like credit cards, bank transfers and mobile wallets, and also sells its payment platform technology to other businesses. The innovative way-in to purchasing cryptocurrencies and crypto-backed goods through a non-blockchain wallet makes it much easier for the everyday consumer to gain exposure, and has seen MoonPay raise a staggering $555 million in its first-ever financing round. The investment was led by venture capital heavy-hitters and web3 goldrushers Tiger Global and Coatue, and it values the company at around $3.4 billion. 

The three-year-old fintech firm’s “crypto-as-a-service” platform is an attractive offering for the vast majority of consumers who may suffer from a particular kind of “cart abandon” when setting up digital blockchain wallets or attempting to engage with the next-generation web3 technology and protocols in other ways. The company aims to make crypto accessible to the masses by serving as a gateway, both literally and figuratively, to digital assets including bitcoin, ethereum, and other popular cryptocurrencies, as well as digital tokens and collectibles like NFTs. To do so, MoonPay  both integrates and sells its technology to other businesses like the crypto website Bitcoin.com and popular digital asset marketplace OpenSea, making it so that bands, platforms, and even individual creators can securely and easily buy and sell crypto and NFT assets. 

MoonPay has been used by musicians and celebrities like Diplo, DJ Khaled, Martin Garrix, Future, and even Gwyneth Paltrow and Madonna, who were all drawn to how frictionless the solution handles web3 and blockchain based transactions. One popular use of the platform by these celebrities is using MoonPay’s concierge service for purchasing NFTs, particularly Bored Apes. The service is used by around 7 million members as of writing, and just added James Freis, a former top money-laundering prevention official at the U.S. Treasury Department, to their ranks as a special adviser for regulatory matters and to protect against money laundering. 

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This article originally appeared in the PSFK report, Product Drop Strategy.