HomeNEWSMoonPay launches venture capital to invest in Web3 startups

MoonPay launches venture capital to invest in Web3 startups


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Leading cryptocurrency platform, Moonpay has launched its investment venture. The platform made the announcement today via an X (formerly Twitter) post. As revealed, the investment venture will focus on investing in projects that will facilitate the adoption of Web3. 

More so, through the investment arm, Moonpay intends to collaborate with “industry-defining” companies. Furthermore, the crypto company indicated that it will leverage its enormous network of more than 500+ partners which included L1 & L2 blockchains, marketplaces, wallets, and exchanges to contribute to the advancement of the Web3 landscape.

The crypto company added that Moonpay Ventures will operate within its corporate development group. This group as indicated will be led by Abhay Mavalankar. Additionally, the firm disclosed that it will continue to support companies within its ecosystem to ensure the mass adoption of Web3. In the announcement, Moonpay stated that the unveiling of the investment arm is a major milestone in actualizing its focus on the Web3 space. 

How MoonPay has championed Web3 advancement in recent times 

It is worth mentioning that the launching of the investment arm of Moonpay emanated on the heels of the recent collaboration with MetaMask. Recall that in March 2023, the crypto firm partnered with Metamask to avail crypto payment in Nigeria. 

According to a Binbits report, MetaMask established a means of payment to improve existing crypto means of settlement in the West African country. As reported, the innovation was targeted at ensuring seamless access to the Web3 space. In the report, Binbits revealed that users can purchase cryptocurrencies without setting up an account in a centralized crypto exchange.

Similarly, MoonPay extended its dominating presence in the NFT space by partnering with Immutable X in December 2022. Then, reports indicated that collaboration aided MoonPay users in minting and owning NFTs through a payment feature established in their credit or debit cards.

The collaboration with MetaMask and ImmutableX emphasized the crypto company’s commitment to onboarding users into the Web3 space. Likewise, the launching of the investment organ highlighted the commitment of Moonpay to ensuring the advancement of the Web3 space.

Lately, Web3 has emerged as a top contention in the crypto and blockchain space. Owing to that, numerous blockchain companies have prioritized Web3 as the next big thing. Consequently, companies including MoonPay are pursuing the focus of establishing themselves as a force to reckon with in the decentralized internet space. Now, the numerous collaborations Moonpay has divulged will project the company as a leading figure in the industry. 

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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