2 years ago
21Shares, a Switzerland-based crypto exchange-traded merchandise (ETP) issuer, has launched a caller conveyance focused connected the SAND token to springiness investors vulnerability to The Sandbox’s metaverse and gaming platform.
ETPs are a popular mode for organization investors to stake connected cryptocurrencies and blockchain projects. Banks including Goldman Sachs, ICAP, JPMorgan and UBS person each bought ETPs for an expanding fig of clients.
The Sandbox platform, built connected Ethereum, is simply a decentralized virtual satellite wherever participants tin monetize assets and gaming experiences. Through the ETP, investors volition beryllium capable to capitalize connected the maturation of The Sandbox successful a unafraid way, according to the property release.
In February, 21Shares launched its Decentraland (MANA) ETP. Hany Rashwan, CEO and co-founder of 21Shares, told CoinDesk successful an email that for this ETP, it chose Sandbox implicit different metaverse platforms due to the fact that of capitalist demands for much entree to opportunities beyond bitcoin and Ethereum.
“The metaverse is 1 of the astir pre-eminent themes wrong crypto astatine the moment, with The Sandbox successful peculiar showing beardown maturation to go the champion performing blue-chip metaverse token,” said Rashwan.
The motorboat marks 21Shares’ 30th cryptocurrency ETP offered and volition beryllium cross-listed connected Euronext Paris and Amsterdam. 21Shares has adjacent to $3 cardinal successful Assets nether Management (AUM) and has implicit 130 listings, including the world’s lone ETP tracking Binance, according to the property release.
The motorboat comes aft SAND, the autochthonal token of The Sandbox platform, has dropped 40% successful the past 3 months. Other metaverse-related tokens including Decentraland and Axie Infinity are besides down year-to-date, importantly underperforming bitcoin.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Lyllah Ledesma is simply a CoinDesk Markets newsman presently based successful Europe. She holds bitcoin, ether and tiny amounts of different crypto assets.
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