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‘A really happy accident’: MoonPay boss sheds light on how the startup is shepherding big-ticket NFT

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‘A really happy accident’: MoonPay boss sheds light on how the startup is shepherding big-ticket NFT purchases

by Ryan Weeks
'A really happy accident': MoonPay boss sheds light on how the startup is shepherding big-ticket NFT 3
Quick Takes
  • Since November, MoonPay has been helping celebrities purchase items from some of the most popular — and expensive — NFT collections.
  • But what’s in it for MoonPay? And how do these sales come about? CEO Ivan Soto-Wright explains.
Jimmy Fallon, Post Malone, Diplo, DJ Khaled.

Those are just a few of the growing number of celebrities — most of them musicians — who have leaned on crypto startup MoonPay to broker purchases of extravagantly expensive non-fungible tokens (NFTs).   

The newest member of the crew is the NFT-curious rapper Snoop Dogg, who took to Twitter to flaunt four new pieces from the Bored Ape Yacht Club (BAYC) collection on December 22. In a separate tweet, he thanked MoonPay and CEO Ivan Soto-Wright for helping with the purchase. Bored Apes represent a high proportion of the NFT purchases that MoonPay has brokered on behalf of celebrities.

The vehicle steering these deals is MoonPay’s so-called ‘concierge service,’ which it unveiled in November. A spokesperson for the $3.4 billion startup described the concierge at the time as a white-glove service designed to help the super-rich and celebrities buy NFTs “without all the hassle of setting up a wallet, buying crypto, using that crypto to purchase an NFT and then taking custody of it.”

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From the Dashboard
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Binance continues to dominate the centralized crypto exchange market. It facilitated 67% of total volumes this year, i.e., over $9.5 trillion, according to The Block Research.
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Amber Group’s UK Subsidiary, WhaleFin Technologies, Receives Approval as Appointed Representative for UK FCA-Authorised Firm Strata Global Limited

by Amber
Amber Group, a leading global digital asset platform, has announced that its UK subsidiary, WhaleFin Technologies (UK) Limited, has secured the Financial Conduct Authority (FCA) approval to become the Appointed Representative (AR) of FCA-authorised Strata Global Limited.
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The Scoop
  • In Part 1, Sam Bankman-Fried harkens back to the precious beginnings of FTX, spun out of Alameda Research, a trading firm he also founded. 
  • The Block’s VP of Research Larry Cermak joined host Frank Chaparro for a discussion in which he broke down his predictions for the top crypto trends to come in 2022.
  • While VanEck may not have been able to launch a spot bitcoin ETF this most recent attempt, the firm sees a silver lining in the reaction from policymakers in Congress in this episode of The Scoop.
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