Well-known social investing network eToro is moving into the world of NFTs with the launch of eToro.art, a new patron program to support NFT creators, agencies and brands.
The $20 million dollar fund will be used to purchase blue chip NFTs but will also seed emerging creators and NFT projects.
Its ambition is to become one of the leading NFT collectors in the world and will reveal the current collection of eToro NFTs already collected including Bored Ape Yacht Club, CryptoPunks and World of Women 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.”
eToro.art will also commit $10 million to emerging artists and emerging markets this year. Any artists wishing to participate in the program should complete an application on eToro.art.
eToro debuted the collection at the Bass Contemporary Art Museum in Miami in April, in a private event focused on the future of culture.
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.”
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