The Chronoly (CRNO) project has launched after a successful presale and the project has the ability to bring Bored Ape level collateral to crypto. A recent news story said that an investor was able to borrow $1.3 million using a Bored Ape Yacht Club NFT as collateral. Chronoly is minting NFTs of luxury watches bringing a solid value proposition to the NFT market. Investors no longer have to keep their watch collections tucked away and can trade them on a decentralized marketplace.
Traditional watch investors could flock to the project due to their affiliation with luxury timepieces. Watches soared in value this year when investors looked for tangible assets during the tech stock sell-off. The price of Chronoly continues to pick up as more investors discover the project, and a planned listing on Uniswap and CoinMarketCap could well be the catalyst. This is the time for investors to get in at the ground level.
Bored Ape Yacht Club (APE) Collateral Highlights a New Dawn
Investors are obsessed with Bitcoin (BTC) and its ability to be a safe haven but the recent use of a BAYC NFT to secure a $1.3 million loan is another example of this dynamic stretching further into the market. Not all NFTs will offer the confidence for that kind of move but Chronoly has a chance to do it as their NFTs will be backed by luxury timepieces from the likes of Audemars Piguet and Rolex.
Bored Apes are highlighting the dynamic of money again that it is based on confidence and trust. The chaos in the DeFi market happened because investors lost trust in stablecoins such as Terra and its project token LUNA. This is unlikely to happen in a market for luxury watches because they are a proven investment over time. The NFTs minted by Chronoly will be stored in a secure location with regular audits.
Chronoly (CRNO) Can Bridge the Old and New Investment Worlds
Chronoly will be attractive to investors with experience of investing in luxury watches. The project will offer benefits to those investors with a decentralized trading platform that will bring new liquidity. Fractional investing will bring a host of new investors into watches and owners could cash out part of their collection or use them as collateral. There is also the ability to stake the CRNO token for a yield and join the exclusive members club with regular watch giveaways.
Investors can profit from jumping into the coin now as the price could increase further with future plans to list on the likes of Uniswap and CoinGecko, where more attention will bring new investors. In the current bear market, investors have been seeking safety and have flocked to traditional assets like art and watches. Chronoly will now bring that safe haven into a digital world with a unique decentralized trading platform and the project’s NFTs will hold a strong floor price due to the backing of valuable timepieces.
For more information about Chronoly.io
Website: https://chronoly.io/
Telegram: https://linktr.ee/chronolyio
Twitter: https://twitter.com/Chronolyio
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Source: https://www.thecoinrepublic.com/2022/10/11/chronoly-crno-can-bring-bored-ape-ape-collateral-gains/