eToro steps into NFTs with eToro.art

Social investment network eToro is entering the world of NFTs with the launch of eToro.art, Invezz learned from a press release. The new program will support NFT creators, brands, agencies, and other stakeholders in the market.

$20M will go toward seed funding

The program has a $20 million fund, which will go toward seed funding for NFT creators and projects to be supported by eToro in bringing new products to market. Part of the money will be used to buy blue chip NFTs like CryptoPunks and BAYC.

eToro plans to bring the fun, power, and community of NFTs to its 27 million+ registered users and intends to give them new ways to explore and enjoy these assets.

Yoni Assia, eToro Cofounder and CEO commented:

In the first stage of the new NFT program eToro.art, eToro will reveal its own NFT collection. It includes CryptoPunks, Bored Ape Yacht Club, World of Women, and other blue chip projects as well as projects by new and emerging artists.

After deploying its full funds, eToro will see this collection on par with some of the leading ones in the world.

The exchange also plans to invest $10 million in emerging projects. They will act as a strategic partner to support the launch of such projects on the market this year.

Guy Hirsch, Managing Director, Global NFTs at eToro added:

eToro’s collection will debut this week at the Bass Contemporary Art Museum in Miami, in a private event centered on the future of culture.