eToro Art: Our opinion on the eToro NFT project
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In this article we will discuss eToro Art, eToro’s NFT project. Within the post you will be able to find information on:
- What is eToro Art and how it works.
- What eToro Art is for.
- How to submit your NFTs to eToro
- What the future holds for eToro Art
What is eToro Art
eToro Art is the platform created by eToro dedicated to the world of NFTs. Through the eToro Art project, eToro funds emerging NFT artists who are considered promising and/or innovative compared to the current market.
eToro Art is a project in development, but it’s already possible to start investing in the NFTs featured in the eToro’s virtual gallery.
In fact, eToro is aware that a large portion of the users registered on the trading platform could potentially be interested in buying, trading, and investing in NFTs. That is why they are investing in this new project that will serve to further expand eToro’s offering to investors.
Very illustrative are the words of eToro CEO Yoni Assia:
“As a company with one eye constantly on ‘what’s next’, eToro sees huge potential in the metaverse and a range of new digital assets. eToro has a community of over 27 million registered users who want insight on and access to new and emerging technologies. 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.”
How does eToro Art work?
On eToro Art, users can propose their artwork to eToro in NFT by filling out a questionnaire. The questionnaire is used to study the artist’s proposal in order to consider funding the project and thus future inclusion in eToro Art’s NFT gallery.
In the future, artists who are accepted as part of eToro Art may see their projects published onto eToro where they can be bought or traded by more than 20 million users.
Is it possible to buy NFT on etoro art?
eToro allows you to buy NFTs through Delta. To buy NFTs you need to download the Delta app, have an eToro account and a MetaMask Ethereum wallet (which must be linked to Delta).
To download Delta you can log into your eToro account and use the “search” function until you find the NFT section of the platform.
By clicking the “NFT” icon (either from mobile or PC), eToro will automatically redirect you to the store where you can download Delta for free.
Once you download the app, you can monitor a number of markets including the NFT market where you will find the digital art collection provided by eToro.
By selecting a NFT, Delta will allow you to buy it on eToro as long as you have enough Ethereum in the MetaMask wallet.
The amount of Ethereum you need can be purchased directly on eToro, which also offers the possibility to buy cryptocurrencies.
Once you have purchased enough ETH, you can move the cryptocurrency to eToro Money (eToro’s crypto wallet), and from there to MetaMask.
For more details, you can check out eToro’s dedicated guide.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Is there an eToro portfolio for investing in NFTs?
To date, there is no eToro portfolio dedicated to NFTs.
In any case, eToro offers some cryptocurrencies related to the world of NFTs and the Metaverse. These include:
To buy these cryptocurrencies or to get more information about them, check out eToro’s trading platform.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
How to propose yourself to eToro as an NFT artist
To propose yourself to eToro as an NFT artist, you need to go to the official website and fill out the questionnaire.
Among the questions we can find:
Questions about your Identity. eToro Art will ask:
- Whether you are an artist or an agency
- Your name, provenance
- Contact information.
Questions about the project. These include:
- A description of your work
- Experiences
- Colleagues/collaborators
- The goals of the project
- Concepts/deck uploads.
NFTs available on eToro art
Several NFTs are present on eToro including:
- Bored Ape
- Gutter Cat Gang
- Fatales
- World Of Women
- Alien Frens
- Fancy Bears
For the full list of NFTs featured on eToro Art, you can check out the collection on the site.
The current status of eToro Art
eToro’s decision to invest in NFTs comes after years of investing in innovative sectors such as cryptocurrencies.
In fact, between 2020 and 2022, eToro greatly expanded its crypto offerings with new cryptocurrencies, a proprietary crypto wallet, and the creation of cryptocurrency-themed Smart Portfolios.
In the very last months of 2022, after acquiring the Delta app in 2019, eToro allowed its users to invest in the NFT collection there were organizing.
According to eToro’s data, users on their platform are very interested in cryptocurrencies, so much so that for 91 percent of users their first trade includes crypto, stocks, or copy trading, and 63 percent of users trade more than one type of product.
Consequently, partly for these reasons, eToro decided to expand into the NFT field as well.
eToro started in 2007 as a social trading platform for CFD trading, but despite this it has managed to establish itself in other areas as well to the extent that to date it is among the best brokers for investing in cryptocurrencies and stocks.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
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