World Crypto Global
Firms to Launch Benchmarks for Metaverse-Linked Tokens on Jan. 30
<p class="MsoNormal">Derivatives marketplace operator, CME Group, and cryptocurrency benchmark indices provider, CF Benchmarks, will launch three new Metaverse reference rates and real-time indices on January 30, the firms announced on Thursday. </p><p class="MsoNormal">The benchmarks, which will be calculated and published daily by CF Benchmarks, will provide “accurate and resilient pricing data” for tokens linked to the Axie Infinity (AXS), Chiliz (CHZ) and Decentraland (MANA) Metaverse-based platforms. The benchmarks will be published as non-tradable futures products, the firms said.</p><p class="MsoNormal">“Each of the new Axie Infinity, Chiliz, and Decentraland benchmarks will be calculated with pricing data from a minimum of two of these exchanges – Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital,” the firms disclosed in a statement, adding that the benchmarks will be based on “robust methodologies” and will be regularly vetted by experts.</p><p class="MsoNormal">The firms further noted that each benchmark will provide the US dollar price of each digital asset. These prices will be “published once-a-day at 4 pm London time,” <a href="https://www.financemagnates.com/tag/cme-group/" target="_blank" rel="follow">CME Group</a> and CF Benchmark said, further noting that each index will be published around-the-clock.</p><p>Check out this FMLS22 session on Metaverse and trading.</p><p class="MsoNormal text-align-justify">CME Group and CF Benchmark Aim for ‘Transparent, Regulated and Round-the-Clock Pricing’</p><p class="MsoNormal">Speaking in the statement, Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products noted that the cryptocurrency industry has continued to see increased interest in <a href="https://www.financemagnates.com/cryptocurrency/the-metaverse-is-misunderstood/" target="_blank" rel="follow">Metaverse projects</a>. </p><p class="MsoNormal">"With increased price transparency across more cryptocurrency products, market participants will be able to price sector-specific portfolios, <a href="https://www.financemagnates.com/cryptocurrency/can-the-metaverse-facilitate-sustainable-growth-of-decentralized-finance-defi-systems/" target="_blank" rel="follow">develop structured products</a> with greater confidence and manage price risk around various Metaverse-based projects,” Vicioso explained. </p><p class="MsoNormal text-align-justify">Also speaking, Sui Chung, CEO of CF Benchmarks, expressed excitement at being able to provide investors with exposure to all types of digital assets through high benchmarking standards.</p><p class="MsoNormal">"These benchmarks will provide accurate and resilient pricing data for tokens linked to the Metaverse, an exciting new scion of crypto where properties and communities can exist wholly within a virtual realm," Chung added.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
