21Shares Launches ETP Focused On The SAND Token

21Shares, the Swiss-based issuer of cryptocurrency exchange-traded products (ETPs), has launched a new tool focused on the SAND token to provide investors with access to The Sandbox metaverse and gaming platform.

The Sandbox platform, built on Ethereum is a decentralized virtual world where members can monetize assets and game experiences. Through the ETP, investors will be able to safely benefit from The Sandbox's growth, according to the press release. In February, 21Shares launched the ETP based on Decentraland (MANA).

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This is the 30th ETP for 21Shares and will be listed on Euronext in Paris and Amsterdam. SAND, the native token of The Sandbox platform has fallen 40% over the past three months. Other metaverse-related tokens, including Decentraland and Axie Infinity, have also fallen since the start of the year.

Image: ETF Stream