CME, CF, Launch Three Metaverse Benchmarks
Posted by Colin Lambert. Last updated: January 6, 2023
CME Group and CF Benchmarks will extend their suite of non-tradeable cryptocurrency benchmark products after announcing plans for three new Metaverse reference rates and real-time indices, beginning January 30.
The three new products are Axie Infinity, Chiliz, and Decentraland and will utilise pricing data from those crypto exchanges and trading platforms that are current constituent exchanges for the CME CF Benchmark suite of reference rates and real-time indices. Each will be calculated with pricing data from a minimum of two of these exchanges – Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital.
The new reference rates will provide the dollar price of each digital asset, published once-a-day at 4 pm London time, while each respective real-time index will be published once per second, 24 hours a day, 365 days per year.
“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,” says Sui Chung, CEO of CF Benchmarks.
Citing a rising interest in Metaverse projects, CME Group’s global head of cryptocurrency products, Giobanni Vicioso, adds, “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.”