Crypto Payments Company MoonPay Acquires Web3 Creative Agency Nightshift, Rebranding Otherlife
Crypto payment infrastructure provider MoonPay is taking over creative agency Web3 Nightshift which will be rebranded as Otherlife as part of the deal. The acquisition is to contribute to MoonPay’s plan to establish itself as a one-stop-shop for brands interested in expanding crypto, collectible token and metaverse businesses.
“There was a great opportunity for us to come together and now be able to offer end-to-end lifecycle support for major brands,” said Ivan Soto-Wright, CEO and Co-Founder. by Moonpay, AdWeek. reported. “Now we can reach out to any brand that has an idea or wants to enter Web3, and we can help them execute a complete end-to-end strategy.”
Following its rebranding effort, Nightshift will retain its portfolio of branded customers which includes Adobe, Shopify and Arsenal Football Club, among others, in addition to providing its services to a number of existing MoonPay customers. Last June, MoonPay unveiled HyperMint, a non-fungible token (NFT) platform that has hosted major brands such as Universal Pictures and Fox Corporation as launch partners.
“This technology is one of the best fandom technologies that has ever existed,” Soto-Wright said. “And so part of that, when we talk to brands, was ‘OK, how do they execute a strategy? What is the “why”? How do you implement a strategy? »
Despite the continued slowdown in global crypto markets, Keith Grossman, company president of MoonPay, says there is still significant interest in using blockchain technology for various business cases such as loyalty programs and intellectual property supplements.
“What Nightshift has done really well is show people what Web3 experiences can be and how they can deepen brand engagement,” according to Grossman. “And at the end of the day, if you can show customers how they can be more successful, they don’t care if it’s Web1, Web2 or Web3, they just want to be more successful.”
MoonPay claims to be active in more than 160 countries around the world, providing services to more than 5 million customers to whom the company has delivered some $2 billion worth of crypto to date, according to company figures. MoonPay claims to have a valuation of around $3.4 billion.
“Our access and exit product suite provides a seamless experience for converting between fiat currencies and cryptocurrencies using all major payment methods including debit and credit cards, local bank transfers , Apple Pay, Google Pay, and Samsung Pay,” the company states, adding that more than 300 leading crypto wallets, sites, and apps trust its services.
Meanwhile, the crypto-payments infrastructure provider is also expanding its presence in Europe. Last month, MoonPay said it has obtained registration as a crypto-asset business with the UK regulator Financial Conduct Authority.
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