By
Temitope Olatunji
May 9th, 2024
Etoro plans to provide financial support, technical support, and marketing support to any project that partners with it. Interested creators may complete the application on the eToro.art website to begin.
Crypto trading platform eToro has unveiled its debut into the NFT world by launching a new initiative called eToro.art. The eToro.art is a new patron program established for the support of agencies, brands, and creators. During the launch of The Bass on Thursday, the firm announced a $20 million fund as a part of the eToro.art initiative. According to an official press release, the fund will go into buying blue-chip NFTs. Also, eToro will aim at upcoming creators and NFT projects. The firm would support new projects as they come into the limelight.
eToro boasts of more than 27 million registered users on its platform. And the company plans to connect them with NFTs. The crypto company also said it would provide new ways for its millions of users to explore and have maximum fun with non-fungible tokens.
The NFT market is growing at an alarming rate, and many believe that the buzz is not for a short while. Over the past few months, popular brands across different industries, from food to fashion to sports, have infused NFTs initiatives. Examples are Coca-Cola, Gucci, and the National Football League (NFL).
eToro Launches into NFT
The managing director of global NFTs and eToro, Guy Hirsch, stated that NFTs connect culture, technology and investing. He referred to eToro as a leader in the social investing field and believes that the company is capable of taking over the NFTs space. Hirsch added that the newly-revealed eToro would link up creators with investors using technology. Speaking on behalf of eToro, he noted his excitement over the support for NFTs projects.
Notably, the eToro.art program would be in different stages. The initial phase will disclose eToro’s NFT collection, including, Bored Ape Yacht Club, CryptoPunks, World of Women Galaxy. With all these, eToro is positioned to be a giant among other NFT collectors.
Specifically, eToro is committing $10 million to emerging NFT projects. The company will be a strategic partner as it introduces these new projects to the market this year. Etoro plans to provide financial support, technical support, and marketing support to any project that partners with it. Interested creators may complete the application on the eToro.art website to begin.
“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,” said Yoni Assia, the company’s CEO.