Place/Date: - June 27th, 2022 at 8:45 am UTC · 3 min read
The metaverse was a hot topic on investors’ minds at the end of 2021 after tech giant Facebook announced a rebrand of its business. The company renamed itself Meta Platforms and announced it would focus solely on projects in the metaverse. Metaverse-based projects like Decentraland (MANA) and The Sandbox (SAND) were in hot demand but have slowed with the recent bear market. The metaverse is a virtual world, similar to a role-playing video game, with a user having their own personalised character- an avatar. Chronoly (CRNO). Chronoly is launching a decentralised platform for trading in luxury watches and that could see the project opening virtual stores for its NFTs.
The Decentraland MANA coin has had a hard time of late with a drop in its value from last year’s highs around $5.40 to trade below $1.00. Decentraland (MANA) really highlights the speculative nature and impatience of investors as the project will be a leader in virtual worlds and Facebook (now Meta Platforms) wants to bring its billions of users across to virtual land space. Even if they can only convert a portion of those users as regular visitors, it can still be big business for alternative world’s like Decentraland. Many big-name corporations are already building in the metaverse with game developer Atari being an early entrant and building a virtual casino. Nike also sold batches of NFT sneakers last year so fashion is already becoming big.
The Sandbox (SAND) project will also look for future growth in its real estate and despite the recent downturn, the project signed up two large telecommunication companies in PCCW and HKT. Those companies want to build 5G mobile networks within The Sandbox. That is a good measure of the creative ideas that corporations are looking at. SAND got a boost from a Coinbase listing recently where the project will reach new investors. Even if the metaverse is the future then this pullback is a good buying opportunity.
Chronoly (CRNO) is the world’s first fractional watch investment platform built on the Etheruem blockchain. Users can invest from as little as $10 into an NFT where the NFT is backed by the underlying asset. In this case a rare, luxury and exclusive watch. Chronoly can make itself an important player in the metaverse when it becomes mainstream. The minting of luxury watches is a unique idea and brings a further opportunity to personalise avatars and display you watch collection in the metaverse. Chronoly could see itself opening virtual stores for watch brands or partnering with the market leaders. Chronoly’s early entrance with a decentralised trading platform will also be a plus for the project being a first of its kind.
Early investors in this project have been rewarded with a 400% gain in the presale but there is surely bigger things to come. For a limited time, investors can get access to the exclusive members club and there will be regular prize draws where you can win cash and watches just for holding your tokens. Investors will also be able to stake their CRNO tokens to earn passive income or take advantage of a lending protocol. It’s been predicted that the price of CRNO could rise a further 2,000% before the end of presale on September 27th.