21Shares has launched a sandbox exchange-traded product (ETP) to offer crypto investors sector exposure to the metaverse.
The 21Shares The Sandbox ETP (SAND) listed on the BX Swiss Exchange with a total expense ratio (TER) of 2.5%.
The ETP will track the performance of SAND, the native token of community-driven gaming platform The Sandbox.
The Sandbox initially launched on mobile in 2012 and later on PC, only to develop into a blockchain-based three-dimensional open-world game, partnering with the likes of Adidas and Snoop Dogg.
SAND is used for all transactions and interactions within The Sandbox ecosystem. The token was built on the ethereum blockchain with a finite supply of three billion tokens.
Commenting on the launch of the SAND ETP, Hany Rashwan, CEO and co-founder of 21Shares said: “We are very excited to launch our thirtieth product and it is a testament to the amazing team we have built as well as the significant acceleration in the global blockchain movement.
“Our best-in-class products mirror our vision to make crypto accessible for everyone and this is just the beginning.”
SAND is the issuer’s second venture into the metaverse following the launch of the 21Shares Decentraland ETP (MANA) in February which offers investors exposure to a virtual reality platform that monetises digital land.