Chronocatz Can Protect Investors from Bored Ape SEC Attention

The Chronoly (CRNO) project was recently launched and features a decentralized marketplace for luxury watch investing. An NFT will be minted for each timepiece owned by the platform and will feature the world’s top watch brands, such as Patek Phillipe and Rolex. The latest release from the Chronoly team is the Chronocatz NFT collection, which is 7,777 exclusive cats with rare features and access to a private members club.

Bored Apes Yacht Club was the big ticket in the NFT market last year with the project clocking up $2 billion in sales to date. But recent news said that the SEC regulator was looking at the project’s release of ApeCoin and NFT collections, which they said may violate federal law. A similar case was brought against the Ripple XRP token In December 2020 and the project has been locked in a court battle for almost two years.

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Bored Ape Yacht Club Under SEC Pressure

The Bored Ape Yacht Club founders, Yuga Labs, were receiving attention from the Securities and Exchange Commission over claims that the sale of its digital assets violated securities laws. If the SEC brings a case against Yuga Labs it would mean that the project could ultimately be forced to follow stock rules and likely see a heavy fine. In March 2022, Yuga Labs was given a $4 billion valuation after a $450 million capital raise and its NFTs are still big sellers on NFT marketplaces. An SEC case could dent the price of the NFTs and damage investor trust in the market.

That creates risk for investors because the project’s NFTs are very expensive. Bored Apes have a floor price of around 78 ETH which is around $100k for one NFT so it is a collection reserved for the wealthy.

Chronocatz Can Protect Investors from BAYC SEC Issue

Chronocatz NFTs have the ability to protect investors from the BAYC SEC problems. The Catz NFTs are minted against luxury watches, so there is no SEC jurisdiction for global watch brands. The issue for BAYC also involved the drop of the ApeCoin utility token but the Chronocatz collection was not airdropped to CRNO holders. Luxury watches have been a stable investment for a long time and they were a safe haven this year when stocks tumbled. BAYC holders could look to reduce their exposure to the Apes until the SEC issue is cleared up.

The Chronocatz collection consists of 7,777 unique cats with luxury clothing, accessories, and a designer watch. That watch provides the rarity value tiers of 1-6 and unlocks the door to the Chrono Wealth Club for members-only rewards and community access. Exclusive watch drops on the Chronoly.io marketplace, private auctions, and trading discounts are all available. The project should attract a vibrant community with a real interest in the watch brands. The Catz will add a bit of fun to the networking events, and parties. Investors should also see that paying $100k at the floor level for an Ape NFT is very risky and there are bargains to be had in the Chronocatz collection at this early stage.

For more information about Chronocatz.io

Website: https://chronocatz.io/

Telegram: https://linktr.ee/chronolyio

Twitter: https://twitter.com/Chronolyio

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