MoonPay, a company specializing in crypto infrastructure, made its first acquisition on Thursday, January 19, when it announced the purchase of the Web3 creative studio Nightshift. The most recent purchase will assist MoonPay in expanding its presence and range of services within the Web3 industry.
The specifics of the purchase price has not be divulged at this time. MoonPay has decided to change the name of Nightshift to Otherlife as part of the transaction. When the firm was known as Nightshift, it managed creatives for Web3 native customers such as Adam Bomb Squad, Coinbase, OpenSea, and others.
In addition to providing services in Web3, the firm has been providing design, branding, and Web3 product strategy for large customers such as Shopify, Playboy, Arsenal Football Club, and other similar organizations.
MoonPay began its career in financial technology as a player that enabled consumers to buy crypto currency items using traditional currencies. MoonPay has been active in the non-fiat currency (NFT) market throughout the past year.
MoonPay introduced Hypermint in June 2022, enabling businesses to mint 100 million digital assets in a single transaction.
Official Speak of MoonPay
Ivan Soto-Wright, the CEO of MoonPay, commented on the situation. He said that with the acquisition of Otherlife, they would be able to provide businesses, brands, and creative professionals world-class, end-to-end assistance to release new income through innovative Web3-based goods, experiences, and ideas.
He further sid that he has always respected and admired anything that Perrow, Moodie, and the rest of the Otherlife crew have produced.
He said that there was a significant opening for them to collaborate, and as a result, they are now in a position to provide full-service support throughout the lifetime of major brands.
He said that now we are in a place to go to any company that has a concept or wants to enter Web3, and are in a position to assist that brand to execute a complete end-to-end plan.
What Does the Future Hold for MoonPay?
MoonPay will be able to provide a simple entry point for legacy businesses to make the transition into Web3 thanks to the combined knowledge of this new coupling. MoonPay has spent most of the past year significantly growing the product suite it offers to guarantee that it can serve as a simple entry point for businesses looking to expand into the Web3 space.
Along with the introduction of Hypermint, MoonPay announced their NFT-based scavenger hunt that would be available to visitors of Universal Studios as part of a partnership with the entertainment behemoth Universal Pictures.
Michael Moodie, the Creative Director & Co-Founder of Otherlife, said that Otherlife's brand is a rebirth of their determination to provide cutting-edge innovative solutions and their dedication to being at the front of the web3 industry.
This commitment is shown in their continuous focus on innovation, which the brand of Otherlife reflects. While maintaining our commitment to the basic principles that guide us, they will strive to test the limits of what is now considered feasible.