eToro, a Tel Aviv-based social trading and investment platform, announced that it has made its debut in the world of NFTs with the launch of eToro.art.
The announcement comes seven months after launching a DeFi portfolio, offering investors long-term exposure to key projects in the DeFi ecosystem.
eToro.art is a new patron program to support NFT creators, agencies, and brands. The Israeli company will debut the collection at the Bass Contemporary Art Museum in Miami this week, in a private event focused on the future of culture.
Yoni Assia, Co-Founder, and CEO at eToro says, “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 into 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’s NFT platform roadmap
The company will use its $20M funding to purchase blue-chip NFTs and seed emerging creators and NFT projects, whom eToro will support to bring new NFTs to market.
eToro intends to bring the power, fun, and community of NFTs to its community of over 27M registered users and plans to offer new pathways for them to explore and enjoy NFTs.
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.
Further, the company has also committed $10M to emerging projects and acts as a strategic partner to support bringing new emerging projects to market in 2022.
As per the company claims, the projects will receive a range of support and services, including a range of financial, technical support, marketing, and community support 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, Global NFTs at eToro says, “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.”
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.
Founded by David Ring, Ronen Assia, and Yoni Assia in 2007, eToro is a social trading and investment network that allows users to trade currencies, commodities, indices, crypto assets, and stocks.
The company’s mission is to open up the global markets so everyone can trade and invest in a simple and transparent way.