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What is Chronoly (CRNO)? Luxury watch NFTs

What is Chronoly (CRNO)? Luxury watch NFTs

Chronoly (CRNO) is emerging as the rising star among utility tokens in 2022. Since its presale launched in early May, the price of the token has skyrocketed by 560% amid the slumping crypto markets. CRNO is backed by real physical luxury watches such as the iconic Rolex and Patek Philippe.

Here we take a look at what is Chronoly, the project’s unique selling point and the latest Chronoly coin price prediction.

What is Chronoly?

Chronoly (CRNO) is a marketplace that allows traders to own a portion of investment-grade collectable watches from renowned brands, such as Rolex, Patek Phillippe, Richard Mille and many more.

In the project’s whitepaper, the founder claimed it as the world’s first fractional watch investment platform. Investors can own these exclusive watches by buying non-fungible tokens (NFT) or cryptocurrency.

Investors can buy and sell fractional NFT luxury watches, just like trading shares in a stock. Each NFT watch sold on the Chronoly platform is backed by a real physical watch stored in one of its secure depository vaults around the world.

Investors can also redeem the physical watch used to back the Chronoly (CRNO) value. They can also borrow against their watch NFT and verify the authenticity of the physical watches using a decentralised ledger on the Ethereum (ETH) blockchain.

The watch market indeed has eye-watering potential profit with a value of $49bn, according to the project’s whitepaper. The secondary watch market is valued at $18bn dollars and is expected to grow by up to 3% in 2025, while the pre-owned watch market is expected to reach $29-$32bn by 2025.

For illustration, Rolex’s solid yellow gold green dial John Mayer Daytona has a manufacturer’s suggested retail price (MSRP) of $37,550 and has been seen listed as high as $85,500 on online marketplaces, making it the top list of best Rolex investment watch 2022, according to luxury watches analysis firm Wristadvisor.com.

The project, however, did not disclose the owner of Chronoly ,which is something that potential investors could be cautious about.

How does Chronoly work?

As Chronoly is not officially launched yet, it raises questions about what is Chronoly coin used for?

The project is developing its marketplace platform which allows investors to trade fractional NFTs, like trading shares in the stock market. The platform will be able to support several chains throughout the second stage of the project’s development.

The trading platform has functions similar to those of more established exchanges. Investors can, for instance, set up price alerts, stop-losses and limit orders, as well as track historical and price data.

“The platform enables users to borrow against their holdings and has decentralised functionality enabling users to store the NFTs on their Chronoly wallet or on any third-party ERC-20 compatible wallet,” it added.

Users can burn their watch NFTs and have the physical item transported to more than 120 countries through the logistics partners’ shipping service if they obtain 100% of the watch NFT fractions.

The project also offers an exclusive membership for users that own a special NFT to be released in the phase 2 of its roadmap. The NFT collection is limited to a total supply of 7,777, which can be minted by its community.

“The club members will offer a dedicated watch concierge service, giving members access to exclusive NFT watch drops, watch networking events, exclusive watch parties and more,” it said.

Chronoly’s roadmap

Chronoly cryptocurrency roadmap has four phases. The first phase consists of all preparations for the creation and presale official launch of the token, including launching a website and custom dashboard for presale, creating social communities and PR publication as well as audits.

Official sale at UniSwap and Pancake Swap Bridge; listing at CoinGecko and CMC and the second smart contract audit are among steps in the second phase.

The project aims to launch CRNO token on a top 10 centralised exchanges (CEX) in the third phase, along with the launch of NFT Marketplace, private members club and global marketing push.

In the fourth and final phase, the project has several key plans, including the development of Chronoly oracle, Metaverse incorporation via Chronoverse and the launch of its first NFT holder only network event.

The project has almost completed the first phase with the second presale is scheduled to wrap up on 27 July. It does not disclose a detailed schedule for the next phases.

Uncertain cryptocurrency market

The Chronoly project emerges in a difficult time for cryptocurrencies. After a bumper 2021, the 2022 cryptocurrency bear market appeared amid tightening monetary policy, recession fears and risk-off sentiment shift.

Plus, the depeg of Terra Luna’s former algorithmic stablecoin and the following crash of LUNC in May 2022 have reinforced the gloomy outlook for crypto, sending the veterans such as BTC and ETH to slump.

Chronoly price prediction: Analyst views and outlook

CRNO token is currently priced at $0.066 in its second phase presale which will end on 27 July, according to its website.

According to the project, the price has jumped 560% from its initial tag of $0.01 during the maiden presale launched in early May. It has sold 51.76m CRNO tokens, but it is still a long way to go from a target of 175m tokens in Phase 2.

The surge in CRNO token price has taken the crypto market by storm with many industry experts predicting that Chronoly (CRNO) could prove to be the ‘Next Big Thing’ in the crypto markets, Beincrypto wrote on 13 July.

Anndy Lian, intergovernmental blockchain advisor and the author of Blockchain Revolution 2030, said it is too early to give the direction of CRNO price prediction given the current cryptocurrency bear market.

“I think the price is only reasonable if we know the details on how they run the project. As of now, if this is purely a membership based project, I think this price is still ok. If this is a securitized project, token backed by real watches, then this is relatively low,” Lian said.
“If anyone is keen to look at this token, I would suggest monitoring its trading volume and movements from key wallets when traded.”

For the outlook on Chronoly cryptocurrency, Lian suggested rather than waiting for more users or for the value of the watches to increase, the project needs to find additional revenue streams.

“I think their potential will be fully optimised when they manage to have the bigger watch brand owners invest in them. This is one of the many ways they can up their game,” he added.

He also warned that liquidity would be another point to watch because each NFT watch is backed by a physical version whose whereabouts one cannot verify.

“The watch backing can also be misleading as some investors may see that this is a security token. Either way, if they go bust, the project will still have to liquidate the watches to pay back. Just make sure you know who their CEO is and where their entity is registered,” Lian added.

When considering a Chronoly coin price prediction, keep in mind that cryptocurrency markets remain volatile, making it difficult to give short-term or long-term price estimates. As such, analyst forecasts can be wrong.

If you are considering trading cryptocurrency tokens, we recommend always conducting your own research. Look at the latest market trends, news, technical and fundamental analysis, and analyst commentary before trading. Keep in mind that past performance is no guarantee of future returns. And never trade money that you cannot afford to lose.

 

Original Source: https://capital.com/what-is-chronoly-crno-token-and-price-prediction

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Meta Begins Testing Ethereum and Polygon NFTs on Creator Profiles

Meta Begins Testing Ethereum and Polygon NFTs on Creator Profiles

Meta, formerly known as Facebook, is now supporting non-fungible cryptocurrencies (NFTs) for some US creators. According to a representative, the company is starting with Ethereum. Eventually, it will support other NFTs such as those on Flow and Solana.

Users Can Create and Share NFT Posts

Navdeep Singh, a product manager for the Meta platform, revealed in a Twitter post that users would be able to display their NFTs on their Facebook profiles. These are unique blockchain tokens that are designed to signify ownership.

Through their Facebook profiles, users will be able to connect their digital assets to their profiles. They’ll also be able to create and share posts with their NFTs.

Tech and media consultant Martin Bryant argued that Meta “clearly wants to offer a home to Web3 folks” with the announcement, considering the company has also recently begun testing out changes to Facebook Groups to make them look “more like Discord.”

Anndy Lian, thought leader and Chairman at BigONE exchange, said:

“While Instagram isn’t the first social app to experiment with NFTs, the sheer size of its one billion (monthly active) user base gives it its biggest reach versus its competitors, which means that the addition of web3 technology it could potentially engage a whole new group of users. And with Meta’s Facebook expected to add similar features in the near future, Meta will have a huge NFT presence in the social media space. I know Instagram can create more sparks in the NFT space. I am so looking forward to it.”

Earlier Rollouts on Instagram

A representative of Meta has confirmed that the company started rolling out new features for creators on Instagram in May.

Instagram recently announced that it would no longer charge for sharing or posting NFTs, and the company would also allow collectors to share their creations using augmented reality stickers. The company also noted that the creator and the collector would be automatically marked.

In May, Adam Mosseri, the head of Instagram, said that the company was planning on launching new features for creators in response to the increasing number of people passionate about owning unique digital items.

Meta’s Online Avatar Store

On Saturday, the company announced that it would launch an online store allowing users to buy clothes for their digital avatars. The store will allow users to customize their outfits using real money.

During a live stream on Instagram, Eva Chen, the company’s vice president of fashion partnerships, announced the partnership. The company noted that the store, which will be called the Avatar Store, would be available on its platforms through Instagram and Facebook. Through the partnership, users can purchase clothes for their digital avatars.

To improve its platforms, including Instagram, Facebook, and Messenger, the company is also introducing 3D avatars. It plans to move away from social media gradually and into a virtual metaverse.

The partnership’s goal is to create a thriving digital economy for Meta’s users. The company has partnered with various fashion brands such as Thom Browne, Prada, and Balenciaga to achieve this.

NFT Sales Have Been Dropping

According to the CryptoSlam tracker, NFT sales have dropped by 150 percent since April. The average price of an NFT has also decreased by 67 percent, from $589 in April to $192. There has additionally been a significant drop in the number of transactions in the market.

The value of the Bored Ape yacht club’s non-finite (NFT) collection has dropped to its lowest point since August 2021. This move is because the floor price has significantly decreased since May, when the collection sold for around $200,000 each.

 

Original Source: https://crypto.news/meta-ethereum-polygon-nft-creator-profiles/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Cristiano Ronaldo to release NFTs, experts say this is just the beginning

Cristiano Ronaldo to release NFTs, experts say this is just the beginning

Even as Manchester United star Christiano Ronaldo inked a multi-year partnership with cryptocurrency exchange Binance to release his NFTs, experts are of the opinion that the deal will set a precedent for other sports icons to join the bandwagon.

NFTs are rapidly gaining traction across the world as scores of celebrities are endorsing the digital tokens, either by minting their own collections or purchasing them at high prices.
Celebrities such as Paris Hilton, Snoop Dogg, and Tony Hawk have already endorsed NFTs, with the Portuguese football star becoming the latest member of the club.

“Ronaldo is a top-class current football legend with hundreds of million followers across all social media. His NFT would surely be sold-out in seconds when launched and the over subscription will flow to the secondary market creating another round of hype,” Anndy Lian, Chief Digital Advisor, Mongolian Productivity Organization, said.

When asked to predict an estimation of Ronaldo’s NFTs value, Lian said if there are unique pieces with special rights, a few hundred thousand will not problem. “This price range is taken with the current market reference for NFT and prices of Ronald’s collectibles,” he says.

Lian said signing big Intellectual Properties like this is also part of a bear market strategy and that there is a need to bring in non-crypto new blood to support the market now.

“I am also curious what the other centralized marketplaces such as Bybit for instance would do next to grab their share of the pie,” he said.

Responding to another query, Lian predicted that either South Korea-based K-Pop supergroup BTS or basketball player LeBron James could be the next in line to launch NFTs.

Raj Kapoor, the chief advisor of crypto advisory firm Acryptoverse, suspects Binance needed this partnership with Ronaldo to possibly bring value to BSC and begin increasing its (https://www.livemint.com/news/world/bill-gates-says-cryptocurrencies-nfts-are-greater-fool-theory-type-of-investments-11655262148828.html market share.
Asked to estimate the value of Ronaldo’s NFTs collection, Kapoor says guesstimating is dangerous but if one goes by the thumb rule, a few more zeroes are going to be added soon to his net worth.

“Ronaldo would be raking in upwards of $5 million with this new partnership and I am being conservative,” Kapoor says and predicts that “media favorite Lionel Messi, would soon be the next NFT darling.”

Kapoor says worth over $420m, Messi remains a popular figure with an unparalleled fan following and that he would not be surprised if his next big goal would be in the NFT space.
Germany-based Aliasgar Merchant, founder of ‘Learn Web3 With Us’ says launching and promotion of NFTs is an indication of the overall adoption of the web3 space, however, it might also be an underrepresentation of what NFTs are capable of doing.

“Predicting the kind of sales Ronaldo’s NFTs will make is a long shot, given the bearish crypto market sentiments prevalent. Previously, Snoop dog made around $100,000 from his NFT sale. I would predict something around that range for Ronaldo too, given the conditions of the market don’t deteriorate,” he says.

Merchant further said the trend of launching NFTs by celebrities is skyrocketing and that this is just the beginning for sports icons to join the trend.

“If I had to make a guess, I would predict Neymar and Novak Djokovic would be next in line,” Merchant says.
Tapan Sangal, founder and Chief Evangelist of P2E Pro, a technology company, said while the initial offer price for his collection would be driven by his fan fervor, once the pixie dust settles, sustaining the same would be subject to demand and supply influences in the NFT marketplace.

“The important question that needs to be answered is as to how will his loyal fans turned investors be safeguarded when brutal market forces, agnostic to Ronaldo’s fandom, come into play, in the seemingly unsecure NFT zone, which promises ownership of an authentic Ronaldo moment,” he says.

Sangal predicted Lionel Messi, Neymar, Mohamed Salah or even Pele could be the next in line to come up with their own NFT collections.

 

Original Source: https://www.livemint.com/news/world/football-legend-cristiano-ronaldo-to-release-nfts-experts-say-this-is-just-the-beginning-11656309600307.html

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j