eToro launching $20m NFT scheme for creators

$20 million dollar fund to purchase NFTs

Online trading platform ‘eToro’ has unveiled a $20 million dollar fund to purchase NFTs and will launch the initiative under a new scheme that connects NFT creators with big brands.

The company says is designed to bring the “power, fun and community” of NFTs to its 27 million-strong userbase.

It has curated a collection – to be unveiled at the Bass Contemporary Art Museum in Miami this week – which includes blue chip projects such as Bored Ape Yacht Club, CryptoPunks, World of Women, and projects of emerging artists.

Half the fund will be used to back emerging creators, agencies and brands, with the promise of support and services to help bring projects from concept to market.

The company’s CEO Yoni Assia said:

“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.”‘

eToro’ will also pledge 10 million dollars to support emerging creators and brands.