CME Introduces Reference Rates For Metaverse Tokens
CME has introduced reference rates for a few metaverse tokens, providing users with a way to track the prices of these assets. The rates will be published daily and will be based on data from major exchanges. This will allow users to get a better sense of the overall price movements of these tokens.
The more we walk with the crypto space and the blockchain technology, the more we get to see the everyday usage that the tokens are catering towards. One more recent update towards the same came from the CME Group, which is a derivatives marketplace. They are in the planning phase to launch reference rates and real-time indexes for three of the well known metaverse crypto assets. This initiative will be making it possible for the investors to track pricing data more reliably as the process will be using a methodology that is commonly used in traditional finance.
Additional Read: Top Metaverse Projects In 2023
Ever since last year, the Metaverse and the Metaverse tokens exploded in popularity.
This week, on January 5, 2023, the CME Group announced that starting from January 30, 2023, the CME Group and CF Benchmarks will be launching reference rates for Axie Infinity Shards, Chiliz, and Decentraland’s MANA. The CME Group Global Head of Crypto Products, Giovanni Vicioso said in the announcement, “As we continue to see a rising interest in Metaverse projects, CME Group, in partnership with CF Benchmarks, will expand its suite of regulated, non-tradable Crypto Reference Rates and Real-Time Indices to include three new Metaverse tokens. With increased price transparency across more cryptocurrency products, market participants will be able to price sector-specific portfolios, develop structured products with greater confidence and manage price risk around various Metaverse-based projects.“
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