eToro, a social investment network, announced its first step into NFTs via the launch of eToro.art.
What Happened: The new patron program’s $20 million fund will support NFT creators, agencies, and brands. It’s eToro’s intent to empower community development in NFTs for nearly 30 million registered users.
“The launch of eToro.art marks an important step for us at eToro as we continue to develop new, innovative ways of leveraging what the potential of the metaverse can offer to our current community of over 27 million registered users,” said Guy Hirsch, the U.S. managing director and head of NFTs at eToro.
The first stage of the program is the reveal of eToro’s NFT collection. Blue-chip projects like the Bored Ape Yacht Club, Crypto Punks, and World of Women are included.
See Also How to Buy Non-Fungible Tokens (NFTs)
Why It Matters: “As one of the first innovators in the space to offer crypto alongside more traditional investments, eToro.art is another way we can continue to serve as a bridge to non-traditional assets like NFTs while also bringing creators and investors together through technology,” Hirsch said.
Going forward, eToro plans to commit $10 million to emerging projects and act as a strategic partner to support bringing new emerging projects to market in 2022.
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