Investment platform eToro has announced the launch of eToro.art with $20M in funding. The initiative aims to support emerging NFT creators and purchase famous collection tokens.
eToro.art was presented at the Bass Museum of Contemporary Art in Miami. The initiative aims to familiarize 27 million users registered on the platform with NFTs.
Part of the funds will be used to acquire blue chips in the non-fungible token segment. eToro has earlier invested in tokens from the collections of Bored Ape Yacht Club (BAYC), CryptoPunks and World of Women.
The platform will also act as a strategic partner for NFT-centered projects launched this year. Apart from funding, the company plans to provide technical, marketing and community support for projects. Half of the fund will be allocated for this purpose.
