Byline: Hannah Parker
Investors will be able to monitor pricing data better using a method that is more accustomed to the world of traditional finance with the introduction of CME Group’s reference rates and real-time indexes for three metaverse crypto assets.
A method developed by CME Group, a derivatives marketplace, will enable investors to track price data more precisely by establishing the real-time indexes and reference rates used in conventional finance.
Who is CME Group?
Customers can trade futures, options, cash, and over-the-counter (OTC) markets on the CME Group — the biggest derivatives exchange in the world. Users can also evaluate data and optimise their holdings. It makes it possible for market participants to control risk and seize opportunities.
The exchanges run by the CME Group offer the broadest range of global benchmark products for all significant asset classes, including interest rates, equity indices, foreign exchange, energy, agricultural products, and metals. CF Benchmarks is the biggest supplier of cryptocurrency benchmark indices. It is authorised and governed by the UK FCA under the EU BMR.
Its benchmark indices are offered via open methodology and transparent governance for tracking, evaluating, and settling risk in cryptocurrency financial services and products. These indices are made up of market data from six constituent exchanges.
Three New Metaverse Projects Reference Real-Time Indices and Rates
On January 4 2023, three new Metaverse reference rates and real-time indices were unveiled by CME Group and CF Benchmarks, the top producer of benchmark cryptocurrencies. Since January 30 2022, CF Benchmarks has been calculating and releasing these indices daily.
These new Metaverse benchmarks are based on pricing information from the leading cryptocurrency exchanges and trading platforms, which the CME CF Benchmark family of reference rates and real-time indexes uses. Reference prices for the MANA, Chiliz and Axie Infinity (AXS) Shards of Decentraland have been revealed.
Prices for AXS, CHZ, and MANA reference rates and real-time indexes will be provided by at least two cryptocurrency exchanges, including Bitstamp, Coinbase, Kraken, itBit, and LMAX Digital. At 4:00 PM GMT, daily asset reference rates in US dollars will be made available. The real-time index will also be published every second.
CME Group to Add 3 New Metaverse Tokens
The methodology that underpins the CME CF Reference Rates and Real-Time Indices is reliable and regularly reviewed by industry professionals. It aims to meet the rising demand for transparent, controlled, and round-the-clock pricing. In cooperation with CF Benchmarks, CME Group will add three more Metaverse coins to its collection of regulated, non-tradable Cryptocurrency Reference Rates and Real-Time Indices.
Furthermore, market participants will be able to price industry-specific portfolios, construct structured products with greater security, and manage price risk around several Metaverse-based projects thanks to improved price transparency across more cryptocurrency goods.
When multiple projects pledged to build virtual versions of the actual world during the previous cryptocurrency bull market, the popularity of Metaverse tokens soared. In October 2021, Mark Zuckerberg’s Facebook changed its name to Meta to better reflect its potential.
These benchmarks will offer precise and reliable pricing information for tokens linked to the Metaverse — a fascinating new trend in cryptocurrencies where communities and properties can exist online.
The massive CME futures trading company’s arrival into the Metaverse is advantageous to the conflict.
The Metaverse Introduces Fitness
In an interview with the Bitsoft 360 review panel in Web3, the CEO remarked that the idea of exercise in the Metaverse existed before it. There was always a space in the Metaverse to earn money, and projects catered to a specific niche enabled this.
Fitness fans initially became interested in the meta-project called FightOut, but numerous cryptocurrency projects have looked into the possibility of a fitness metaverse. The project’s popularity outside of the cryptocurrency industry is demonstrated by the significant turnover of FGHT tokens during the presale.
FightOut might become the first widely used crypto fitness application if the ecosystem grows, as the whitepaper predicts. The innovative blockchain features of the app are supported by a robust move-to-earn mechanism that performs far better than earlier designs.
Like a personal trainer, the FightOut (FGHT) platform allows users to pre-pay for workout time using the FGHT token. All actions are recorded and can be utilised to raise an avatar’s metaverse metrics.
The creators of FightOut decided not to base their platform only on their smartphone app since doing so would have made it impossible to bridge the gap between real and virtual worlds. The first physical gym in the FightOut team’s planned global network of gyms is expected to open in the first quarter of 2023.
Visits to these gyms, which are not compulsory but highly advised, make it easier to participate in the FightOut community and utilise everything the firm offers.
There are several advantages to getting in on the action early, and raised presales have traditionally been one of the best methods for investors to uncover outsized gains on early-stage businesses. There has already been a successful $2.75 million generated for the FGHT presale. The most recent selling price of 60.06 FGHT for $1 (FGHT may be purchased using ETH or USDT) is expected to increase as the sale progresses.
The development of new technology is exploding almost uncontrollably, and vast sums of money are being exchanged. New-age pioneers are being recognised as artists and fledgling businesses. However, you’d be excused if you weren’t aware of everything. We’re discussing a phenomenon that exists in a different reality. Our physical and digital lives are converging in the “Metaverse,” made possible by internet connectivity, AR/VR, and blockchain developments. This provides the path for other activities, including meetings and exercise, to be moved into a virtual environment. The Metaverse will continue to offer more as technology advances.
