eToro enters NFT space head-on with eToro.art and a $20m fund for artists

Rick Steves

“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 is entering the world of NFTs with the launch of eToro.art, a new patron program to support NFT creators, agencies, and brands, by using a $20 million dollar fund to purchase blue chip NFTs, as well as seed emerging creators and NFT projects.

eToro will support seed emerging creators and NFT projects to bring new NFTs to market in a move that aims to address the wishes of its community of over 27 million registered users.

The launch of the NFT platform is a testament to eToro’s moves since early stage. The trading platform was always open to innovation and following the trends, whether social trading or Bitcoin.

NFTs are, unsurprisingly, finding much greater resistance within the trading industry than Bitcoin et al., but eToro is still willing to risk it because there is demand among its community of users.

“What’s Next”

Yoni Assia, Co-Founder and CEO at eToro, commented: “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.”

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.

In addition, eToro plans to support up and coming creators and brands on new NFT projects. eToro plans to commit $10 million in emerging projects, and 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 support and services that help them bring their NFT project from concept to market. This will include a range of financial, technical support, marketing and community support. To participate in the program, creators will need to complete the intake application on eToro.art.

Guy Hirsch, Managing Director, Global NFTs at eToro, 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.”

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.

Read this next

Retail FX

Finalto sweetens offering for African traders with localized FX pairs

Finalto, the financial trading division of Gopher Investments, announced today that it has extended its offering with inclusion of a number of African Pairs to its trading platforms.

Digital Assets

BitMEX secures OAM registration to operate in Italy

Crypto exchange BitMEX has won regulatory approval from Italy’s financial regulators, allowing the exchange to continue serving Italian customers.

Institutional FX

FlexTrade integrates Glimpse’s post-trade bond execution data

“Looking further ahead, this integration also presents multiple opportunities for how fixed-income traders could leverage the trading data. For example, traders could tap Glimpse data as an input to AI-driven automation workflow strategies in the future.”

Industry News

FINRA fines UBS $2.5m for Reg SHO violations and supervisory failures

FINRA has fined UBS $2.5 million for Reg SHO violations and supervisory failures spanning a period of nine years.

Digital Assets

Bitfinex Pay launches feature that minimizes volatility risk

The currency conversion will take place every five minutes on any amount above $10.

Digital Assets

Mastercard launches Crypto Secure for risk assessment in digital asset space

“Crypto Secure will provide card issuers with a platform that allows them access to insights which will improve the safety of crypto purchases, increasing consumer confidence and creating the same trust they expect when paying with Mastercard.”

Retail FX

VT Markets wins 4 more awards including Best Forex Mobile App Global 2022

“Over the past few months, we have noticed a huge spike in downloads and daily active users on the VT Markets App. Our clients can trade multiple asset classes with ultra-low spreads, and access timely market news on our mobile app.”

Institutional FX

Blue Ocean ATS enhances price discovery and liquidity for after hours US stock trading

Liquidity and price discovery, missing from previous overnight trading solutions, are now possible utilizing the TNS network and managed service platform. Security of the private network and its access to all public clouds, uniformity of compliance and regulatory oversight, redundancy and recovery capabilities, plus the localized customer service around the world made TNS the best candidate for this major step in Blue Ocean Technologies’ growth.

Executive Moves, Retail FX

Equiti Group wins CySEC license to expand into Europe

“Regulation and good governance have always been and will continue to be a key part of Equiti’s business model.”

<