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Image courtesy of eToro
A $20 million fund has been launched by eToro to support NFT creators, agencies, and brands, marking the social investment network's first step into the world of NFTs.
The new initiative, eToro.art, will be used to purchase blue-chip NFTs as well as seed emerging creators and NFT projects, which eToro will support to bring new NFTs to market.
Yoni Assia, Co-Founder and CEO at eToro, said, "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," Assia said.
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, eToro said in the statement.
With plans to commit $10 million in emerging projects, eToro seeks to 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 services including financial, technical, marketing and community support.
To participate in the program, creators will need to complete the intake application on eToro.art.
(Writing by Seban Scaria; editing by Daniel Luiz)
