Crypto trading platform eToro launches $20 million NFT fund as industry approaches inflection point
Trading platform eToro unveiled a $20 million fund to purchase NFTs and bolster creators. The firm announced the launch at The Bass, a contemporary art museum in Miami, Thursday.The trading platform’s fund is part of a new initiative called eToro.art, which aims to support NFT creators and brands.
Guy Hirsch, eToro’s U.S. managing director, said the new fund marked the beginning of a greater NFT strategy for the company, which will eventually offer a multitude of services to allow investors to participate in the emerging economy.NFTs, or nonfungible tokens, are digital assets that represent real-world objects — such as art, music, real estate and beyond — and can’t be replicated.
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