Riding The Wave News Summary #32
Retail investing platform eToro launches $20 million NFT fund to support artists and brands, E.U. Makes Sudden Move Against Crypto ‘Threat’, & more
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Retail investing platform eToro launches $20 million NFT fund to support artists and brands
Bitcoin whales fill their bags despite warnings BTC price could fall below $40K
Tweets
Retail investing platform eToro launches $20 million NFT fund to support artists and brands
eToro announced a $20 million fund to buy, support and fund NFTs and their creators in Miami on Thursday as the bitcoin conference took over the city.
"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. We're incredibly excited to see the developments in this space over the coming months," Yoni Assia, co-founder and chief executive of eToro, said.
This announcement comes a week after Delta, an investment portfolio tracker company which eToro purchased in 2019, added NFTs to its platform. The fund is part of a new initiative from eToro, called eToro.art, which will support NFT creators and brands.
eToro.art allows creators to fill in a form to apply to partner with the investing platform's new initiative, as it looks to discover and support digital artists. The site also showcases eToro's NFT collection, which a portion of the fund will go towards, including pieces from Bored Ape Yacht Club, CryptoPunks, World of Women and more.
"NFTs converge culture, technology, and investing. As the leading social investing platform, eToro is well positioned to lead this space, and eToro.art will bring creators and investors together through technology, uniting communities around art," Hirsch said.
I’m impressed by the speed with which Etoro is moving into NFTs and the commitment they have made to funding. It isn’t surprising with Yoni’s clear support of the space (He is part of BAYC: https://twitter.com/yoniassia?lang=en) & with how great a fit NFTs are with Etoro & its stock fractionalizing as well as its familiarity with crypto. I’m excited to see if this funding for NFTs and investing option is for Ethereum specifically or if they incorporate NFTs on ADA & SOL as well.
E.U. Makes Sudden Move Against Crypto ‘Threat’ After The Price Of Bitcoin, Ethereum, BNB, XRP, Cardano, Solana And Luna Made Huge Gains
The European Union (E.U.) has banned the provision of high-value cryptocurrency services to Russia as part of the latest sanctions salvo in response to the invasion of Ukraine.
The move prohibits deposits to crypto wallets—including using popular cryptocurrencies bitcoin, ethereum, BNB, XRP, cardano, solana and luna—and follows a warning from European Central Bank president Christine Lagarde that cryptocurrencies pose a "threat" to the bloc's efforts to sanction Russia.
I’m surprised the E.U is moving forward with this now as Russia hasn’t made any major moves between the first sanctions and now towards crypto but they may just be closing off one more possible route in case Russia decides to try crypto out later.
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