eToro launches eToro.art

Online broker eToro has announced that it’s stepping into NFTs with the launch of eToro Art, which is a new patron program to support NFT creators, agencies and brands. In order to do so, it has raised a fund of 18.4 million euros.

Popular online trading platform eToro has a community of over 27 million users from over a hundred countries. It offers trading in stocks, commodities, crypto and other currencies. Now, the platform is adding NFTs.

‘Natural step for eToro’

“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”, said co-founder and CEO of eToro Yoni Assia. “We have a large community of 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’s only natural for eToro to serve as the bridge to bring new users into NFTs and the metaverse.”

‘The platform will commit 10 million euros in new NFT projects and brands.’

The first NFT collection was revealed this week. It includes blue chip projects such as Bored Ape Yacht Club, CyrptoPunks, World of Women, and projects from emerging artists. The platform will also invest 10 million euros in new projects and brands. To participate in the program, creators need to fill in the application form on eToro.art.

‘Excited to provide support’

“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 NFT projects”, said Guy Hirsch, managing director of eToro Art.