eToro Launches NFT-Based Fund, Releases Its First NFT Collection

The top global investment platform, eToro, has announced the launch of a subsidiary called is eToro’s NFT-based fund platform. Per the official announcement, the digital creators (whether individuals, brands, or agencies) can showcase and sell their works through this new platform.

Keeping eToro At The Forefront Of Blockchain Innovations

As a launch of the platform, eToro will release its series of digital collectibles. Some of the works in this series include famous works like BAYC, World of Women, Crypto Punks, and works from unknown NFT creators. eToro raised $25m from VCs to launch this platform, but not all the funds have been utilized yet.

Hence, if the platform fully deploys the raised funds as planned, eToro will likely become the biggest NFT collector globally. While commenting on the development, eToro Chief, Yoni Assia, revealed that “we are a company constantly searching for the next big thing in the digital asset space. We are currently researching our strategic approach towards exploring opportunities in the metaverse, including the array of digital assets that we would need to incorporate.”

He added that “our ecosystem of nearly 30m members want our deep analysis of emerging technologies and access to them. Hence, it is only logical that we serve as the conduit for them to explore the NFT and metaverse space. We look forward to seeing the innovations in the metaverse before the next quarter.”

Making Proper Use Of Raised Funds 

eToro team revealed that much of the $25M raised will be used to acquire top NFTs and invest in promising NFT projects and creators. The investment platform further revealed that it would support NFT projects from unknown creators or brands whose works show huge potential. eToro plans to use 50% of the raised funds for this purpose. 

Also, it intends to establish key partnership deals with other metaverse-related projects to make them mainstream before the year is over. eToro will support its partners in all aspects, including technical support, especially for project creators who are still struggling with the marketing angle for their NFT projects.

However, eToro will screen interested partners by asking them to fill out an application on the new NFT platform. This process will ensure that the eToro team works with the most serious NFT project owners. eToro’s performance for Q4 2021 was better than its performance for Q4 2020 by more than 80%. The report, released last week, showed that the platform made the majority of its income through commissions, earning nearly $305m for the period under review.

The Rising Popularity Of NFTs 

Interest in NFTs has surged to new levels in the last 12 months. It is no wonder that NFT marketplaces, especially popular ones like OpenSea, are recording million-dollar worth of NFT transactions daily. Speaking of OpenSea, it has continued to expand its reach to retain its position as the number one NFT platform. Also, it recently partnered with fast-rising blockchain, Solana, to list NFTs minted on this blockchain.

Leave a Reply

Your email address will not be published.


Investors Excited As XRP Market Capitalization Hits $20 Billion

It’s been wide jubilation today after XRP investors heard the announcement that the market capitalization has surged to $20 billion. XRP: a cryptocurrency developed and managed by Ripple, a San Francisco, United States, distributed data company. It was gathered that the coin itself responded to this development through a climb in price – it was […]

GlobalTrades Review, – Is Global Trades Scam or a Good Broker?

GlobalTrades Trading Platform Rating 4.6 Summary Read our Global Trades review at FStar Capital Forex and Cryptocurrency Trading blog, find the answer to your question “is scam or legit” and much more! GlobalTrades Review As people look at cryptocurrencies and their immense success, they are eager to start their own trading businesses. While […]

Belgium Regulator Sets To Impose New Crypto Ads Rules

The Belgium government has mandated that every firm offering crypto advertisements should register with it before launching any campaign. Henceforth, any crypto advertisement without the government’s backing would be treated as an offense with heavy consequences. According to the report, the Financial Services and Markets Authority (FSMA) of Belgium recently announced that every potential crypto […]

Profit-taking on BTC Surge, As Price Breaks The $27,000 Threshold

It has just been confirmed that BTC has experienced the most extensive profit-taking activity since the last quarter of 2020. This information was obtained from data released by Santiment, an on-chain data analytics company. The released data also states that the profit-to-loss volume of the day-to-day ratio on on-chain transactions was one of the major […]

Governments Who ban Drugs Should Ban Crypto Too, Said Belgium’s Ex-Finance Minister

The former finance minister of Belgium, Johan Van Overtveldt, reportedly suggested that any country that bans drugs should also ban crypto assets. According to reports, he made the statement during the recently concluded European Parliament meeting. During the meeting, the parliament was reportedly deliberating on the effect the recent collapse of three crypto-friendly banks, Silvergate […]