Trading platform eToro announced a $20 million fund that will purchase NFTs as well as bolster creators. On Thursday, the firm launched the fund at Miami’s Bass Contemporary Art Museum.

A new initiative is behind the trading platform’s funds. eToro.artThe NFT Foundation aims to help NFT brands and creators.

Guy Hirsch is eToro’s U.S. manager. He said that this new fund represented the beginning of a more NFT strategy. The company plans to eventually offer a wide range of services, which will allow investors to get involved in the emerging market.

NFTs, or nonfungible tokens, are digital assets that represent real-world objects – like art, music, real estate and beyond – and can’t be replicated.

Hirsch explained to CNBC that before bitcoin and ether there were only Goldman Sachs, or other traditional financial institutions, participating in crypto or considering expanding their presence. CNBC’s Hirsch said that NFTs make any brand possible a part of this market.

eToro displayed its digital art collection in a new initiative. It includes popular projects like the Bored Ape Yacht Club (Bored Ape Yacht Club), CryptoPunks, and World of Women. eToro also plans to invest $10 million in support of emerging brands and creators as they bring new NFT products to market.

There are many uses for NFTs. Digital art is one example. Hirsch stated that eToro will add new capabilities to enable customers to access use cases other than digital art.

In the past few months alone big brands from every industry – including Coca-Cola, McDonald’s, Nike, Gucci, the National Football League and more – have brought NFTs into their marketing initiatives.

Hirsch stated that “any brand can find this opportunity and make some kind of NFT which is an ownership stake in a portion of the brand.”

Valuing digital art

Digital art is difficult to value for investors. Investors are often confused by large sales like Beeple’s. at Christie’s for $69 million.

Hirsch noted that while price discovery is a challenge in digital art, and the ability to know what you should buy, it is being addressed by the industry. The floor price is the minimum money that you are willing to spend in order to purchase an item from a particular collection. This is what investors use today.

Hirsch explained, “It should be more advanced than that.” We see services that are similar to traditional art appraisals. We’ll soon have services from third parties that can appraise pieces individually and provide an estimate price for what you are about to purchase or what you already own. This will be in line with market norms.

Hirsch pointed out that art has been an asset class with strong returns for many decades. However, it is not for everyone. eToro wants to connect new artists with new investors to build wealth.

OpenSea is the biggest marketplace for NFTs and NFTs, with NFTs from certain “blue-chip”, projects already selling for a minimum price of hundreds of thousands. That’s hardly accessible to smaller investors, but the company expects that many of the lesser known digital artists whose work it’ll help bring to market won’t be priced like a Bored Ape — a popular collection that’s lured celebrity buyers.

Hirsch explained that “when these artists make a collection, or the prices for NFT drops,” they would sell them at a very low price. People would have the opportunity to take part, and, if there is a strong community and the art is good, the value will increase, but it would still be affordable to everyday investors.

He said that some of them would, “hopefully, attain the point of Bored Ape Status.” “Eventually that will, similar to the Bored Apes create a lot new millionaires, and a lot new wealth for people without it before.”