[ad_1]
Derivatives marketplace CME Group is planning to develop reference rates in addition to real-time indexes for a total of three distinct crypto assets that are part of the metaverse. This would make it possible for investors to monitor price data in a more precise manner by using a method that is often used in traditional finance.
The company made the news on January 5 that CME Group and CF Benchmarks will begin offering reference prices for Axie Infinity Shards (AXS), Chiliz (CHZ), and Decentraland’s MANA commencing on January 30.
The reference rates and indexes are not products that can be traded, but investors can use them to “price sector-specific portfolios, develop structured products, and manage price risk around various Metaverse-based projects,” as explained by Giovanni Vicioso, head of cryptocurrency products at CME Group. The CME Group was kind enough to provide us with this information.
Calculations for the real-time indexes and reference rates for AXS, CHZ, and MANA will make use of price data from a minimum of two different cryptocurrency exchanges. In addition to LMAX Digital and itBit, the following exchanges are included here: Bitstamp, Coinbase, Kraken, and itBit.
Every day at 16:00 local time, the reference rates for the assets will be published with prices in United States dollars. These prices will be published (00:00 GMT). Each and every real-time index will be made accessible for use by the general public each and every second of each and every day.
CoinMarketCap estimates that Chiliz, the most successful of the aforementioned metaverse enterprises, now has a market worth of 742.1 million dollars. This information was obtained from the Chiliz website.
AXS is now valued at roughly $686.5 million, whereas MANA is currently at approximately $597.2 million according to the market.
The CME Group has been fairly active in the cryptocurrency sector, offering micro-sized options for Bitcoin and Ether at the end of the previous year.
The popularity of metaverse tokens increased during the most recent bull market in cryptocurrencies as dozens of projects promised to build digital replicas of the real world.
[ad_2]
blockchain.news
