EToro also tries to enter the world of NFTs, a world adjacent to that of cryptocurrencies that is literally dominating the scene also in this start of 2022.
And it will do so through a 20 million fund, which will serve as a basis for acquiring NFTs of a certain thickness and at the same time to fund young emerging artists in the sector, always with the aim of developing the sector and also the endowments of the popular broker.
There is already an important eToro collection
eToro is not joking and has decided to enter the world of NFTs from the front door. In fact, the group has already presented eToro Art, this is the name of the program, which also includes a collection of the most popular non-fungible tokens on the market, such as Bored Ape Yacht Club, CryptoPunks and even World of Women. When the funds are distributed and therefore they will further expand the collection, we will have one of the most important collections in the sector worldwide.
A second phase is also planned for the project, which provides direct support for both brands and emerging creators. 10 million dollars, or half of the fund’s endowment, will be used for this purpose. Guy Hirsch, who is Managing Director of the eToro Art project, also expressed himself on the subject.
NFTs bring together culture, technology and investments. As a leading social investing platform, eToro is well positioned to lead the way in this space. eToro.art will bring together creators and investors through technology, uniting communities around art. We are thrilled to lend our support to a wide range of NFT projects that reflect the diversity, creativity and positive social impact of the communities of art enthusiasts they represent.
The initiative will also include a presentation of the group’s collection at a private event in Miami. And Delta, an asset explorer system for financial markets, will also add NFTs. Important moves, from one of the players who is trying to define this space in particular from a financial point of view.
A sector that many have defined as a meteor but which, at least in our opinion, through some valuable projects could still continue to give financial satisfaction.
The large groups in the NFT sector
The gluttonous returns offered by NFTs have already made several collectors and major investors sniff out the deal. From this perspective, in all likelihood, eToro’s entry into the sector must be read.
And soon, also given the importance of this intermediary and player in the sector, others will probably follow. Which, at least for this time, will have finished second.