eToro expands into NFTs with launch of eToro Art
The $20 million dollar fund will be used to purchase blue chip NFTs, as well as seed emerging creators and NFT projects. eToro intends to bring the power, fun and community of NFTs to its community of over 27 million registered users, and plans to offer new pathways for them to explore and enjoy NFTs.
Yoni Assia, Co-Founder and CEO at eToro said, “As a company with one eye constantly on ‘what’s next’, eToro sees huge potential in the metaverse and a range of new digital assets. eToro has a community of over 27 million registered users who want insight on and access to new and emerging technologies. As one of the first companies to offer crypto alongside more traditional assets, it is only natural for eToro to serve as the bridge to bring new users into NFTs and the metaverse. We’re incredibly excited to see the developments in this space over the coming months.”
The first stage of the eToro.art program is the reveal of eToro’s NFT collection, which includes blue chip projects such as Bored Ape Yacht Club, CryptoPunks, World of Women, and projects of emerging artists. Once its full funds have been deployed, this collection will make eToro one of the leading NFT collectors in the world.
In addition, eToro plans to support up and coming creators and brands on new NFT projects. eToro plans to commit $10 million in emerging projects, and act as a strategic partner to support bringing new emerging projects to market in 2022. Projects that partner with eToro will receive a range of support and services that help them bring their NFT project from concept to market. To participate in the program, creators will need to complete the intake application on eToro.art.
Guy Hirsch, Managing Director, eToro Art said, “NFTs converge culture, technology, and investing. As the leading social investing platform, eToro is well positioned to lead this space, and eToro.art will bring creators and investors together through technology, uniting communities around art. We are excited to provide our support to a wide range of NFTs projects which reflect the diversity, creativity and positive social impact of the communities of art enthusiasts that they represent.”
eToro will debut the collection at the Bass Contemporary Art Museum in Miami this week, in a private event focused on the future of culture.
Last week, Delta, an asset explorer and tracking app that eToro acquired in 2019, announced the ability to explore NFTs alongside stocks, cryptos and other instruments.