Decentraland, introduction of FTX ETPS in Switzerland

Decentraland, introduction of FTX ETPS in Switzerland

21Shares continues its product introductory tour by launching the first stock market -traded products (ETPS) that concentrate on Decentraland (Mana) and FTX TOKEN (FTT).

The products should be traded in Switzerland on Thursday.

"Adding the world's first NFT and single meta-verse ETP and one of the world's leading crypto exchanges for our product suite is an important milestone for us to make crypto accessible to everyone," said Hany Rashwan, CEO of 21Shares, in an explanation.

Decentraland is the first decentralized and user-owned virtual reality platform that enables users to create, experience and monetize content and applications.

According to Coingecko, Mana's market capitalization is about $ 5.1 billion. The price of $ 3.35 had risen by 31 % compared to seven days ago, on Thursday afternoon et.

By introducing a product with exposure to Mana, the company offers its customers access to the latest web3 application, a spokesman for 21shares told Blockworks.

21Axtia in his specified State Of Crypto report published this week that the worldwide market for augmented reality, virtual reality and mixed reality will probably reach around 300 billion by 2024.

The report adds that the virtual games based on Ethereum rose by around 156,000 % or 39,000 % in 2021.

"We assume that Decentraland and the Metaverse sector will keep up with this acceptance rate and this awareness, since users continue to distrust Facebook."

The Facebook mother company Meta reported a loss of more than $ 10 billion from the company's first forays in the meta-

In the meantime, the 21shares FTX TOKEN ETP will invest in the tokens of the crypto derivate exchange FTX, which enables users to stake FTT, obtain discounts on trade fees and to participate in the coordination of the municipal government.

"FTX TOKEN is an attractive investment case because it offers a commitment to the third largest crypto exchange in the world with a daily trading volume of over 2.5 billion US dollars," said a representative of 21-shares.

21Shares manages around $ 2 billion in 28 crypto ETPs and more than 100 notations.

The company recently put on ETPs, the AAVE (AAVE), Chainlink (Link) and Uniswap (university) as underlyings, also in Switzerland. Rashwan told Blockworks at the time that the company intended to support the 50 most important cryptocurrencies by the end of the year.

The company evaluates new listings, among other things, based on its trade metrics, its team, its investors, its community and its social reach.

21Shares also wants to expand its presence in the USA.

According to Watsons LinkedIn page, the company hired Kayle Watson as head of US sales in November. Before he came to 21shares, he worked for about eight years at Blackrock, the world's largest asset manager, where he acted as director of the institutional asset management and hedge fund sales group.

"21Shares strives to offer investors the most innovative, physically laid crypto ETPs and index solutions," said a spokesman. "Just like in Europe, where we have put together the world's largest product range."

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