On Thursday, January 19, crypto-infrastructure firm MoonPay announced its first acquisition by acquiring Web3’s creative studio Nightshift. The latest acquisition will help MoonPay expand its presence and services in the world of Web3.

MoonPay and night shift

Details of the acquisition amount, however, remain undisclosed. As part of the acquisition, MoonPay will rebrand Nightshift as Otherlife. As Nightshift, the company handled creatives for native Web3 clients like Adam Bomb Squad, Coinbase, OpenSea, and others. Along with services at Web3, the agency has been providing Web3 product design, branding and strategy for big clients like Shopify, Playboy, Arsenal Football Club etc.

Initially, MoonPay started its journey as a fintech player that allowed users to purchase crypto products using fiat currencies. Over the last year, MoonPay has moved into the NFT space. In June 2022, MoonPay launched Hypermint, which allows brands to mint 100 million digital assets at once. Speaking on the matter, MoonPay CEO Ivan Soto-Wright said:

“With the addition of Otherlife, we are able to provide creative companies, brands and agencies with world-class end-to-end support to unlock new revenue through innovative Web3-based products, experiences and ideas. I’ve been a huge fan of everything that Perrow, Moodie and the Otherlife team have created. And I am excited about what we will build together.”

“There was a great opportunity for us to come together and now we can offer end-to-end lifecycle support for big brands. Now we can go to any brand that has an idea or wants to get into Web3, and we can help them execute a complete end-to-end strategy,” he added.

What’s next for MoonPay?

With the combined experience of this new couple, MoonPay will offer an easy gateway for traditional brands to venture into Web3. Over the past year, MoonPay has been rapidly expanding its suite of products to ensure they provide an easy front door for brands to expand into Web3.

Along with the launch of Hypermint, MoonPay partnered with entertainment giant Universal Pictures to introduce its NFT-based scavenger hunt to park guests at Universal Studios. Otherlife Creative Director and Co-Founder Michael Moodie said:

“As a reflection of our continued focus on innovation and creativity, the Otherlife brand is a renewal of our commitment to providing cutting-edge creative solutions and our dedication to staying at the forefront of the web3 industry. We will continue to push the boundaries of what is possible while staying true to our original values.”

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Bhushan is a FinTech enthusiast and has a good knack for understanding financial markets. His interest in economics and finance draws his attention to the new emerging markets of Blockchain technology and cryptocurrencies. He is continuously in a learning process and stays motivated by sharing the knowledge he has acquired. In his spare time, he reads thrillers and sometimes explores his culinary skills.