Fri, 08 Apr 2022 11:04:33 +0000
Bare bones investment platform, eToro, has announced a $20 million NFT fund as it looks to diversify into the burgeoning technology. Initially providing support for digital art and collectibles, with an ambition to expand in the near future.
From the off, eToro has invested in a number of NFT assets, including the likes of CyberKongz, BAYC, World of Women, and Azuki, heavily focusing on a number of big players within the NFT movement as it looks to increase its investment base.
We’re making history with the launch of https://t.co/FwvRr10Zpe. eToro’s growing NFT collection, where art meets the social power of community.
— eToro (@eToro) April 7, 2022
Going forward, eToro has pledged $10 million of the available funds to support emerging creators and brands, taking a more hands on approach as it looks to nurture new talent within the industry. While additionally building out a set of appraisal tools that will more accurately gauge the true value of its investments.
All of this represents the first stages in a grander NFT strategy from the investment company. A mighty trading company characterized by its simplified zero commission transactions. As a result, keen eyed NFT enthusiasts can expect a lot more of the non-fungible from the company in the future.
Despite the recent downturn in NFT engagement, eToro is bullish on the technology as a whole. Mainly due to its potential to provide additional engagement for every conceivable brand on the planet.
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