eToro expands into NFTs with launch of eToro.art, dedicated to supporting NFT collections and emerging creators

LONDON, April 7, 2022 /PRNewswire/ -- eToro, the social investment network, announced today its first step 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, as well as 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 27 million registered users, and plans to offer new pathways for them to explore and enjoy 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."

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, 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."

eToro will debut the collection at the Bass Contemporary Art Museum in Miami this week, in a private event focused on the future of culture.

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.

Notes to editors:
For more information, visit eToro.art.

About eToro eToro is the world's leading social investment network, with a community of over 27 million registered users. It was founded with the desire to open up the global markets so everyone can trade and invest in a simple and transparent way. It was one of the first platforms to enable everyday investors to buy bitcoin (2013) and will play a leading role in enabling 'everyday' investors and creators to access the investment and collectible opportunities presented by the metaverse.

eToro is widely regarded as a crypto pioneer. It bought 100 bitcoin in November 2012 when it was priced at just $12.29. The same year, its CEO and Co-founder, Yoni Assia co-wrote with Vitalik Buterin the white paper for Colored Coins. These tokens are believed to be the first ever NFTs - a market which surpassed $40bn in 2021 and is growing at an exponential rate.

Not satisfied with disrupting the world of investing, in 2018 eToro funding and a desire to shake up the philanthropic world led to the creation of GoodDollar, the first social impact DAO whose building was sponsored by an enterprise company This blockchain project transforms the traditional model of giving and aims to make universal basic income a reality on a global scale.

In 2019, eToro acquired Delta, a multi-asset explorer and tracker. Delta is the only app on the market that gives investors a live view of everything in their investment portfolio including NFTs.

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SOURCE eToro