The Chronoly (CRNO) project has now launched, and investors have the opportunity to make fractional investments in the luxury watch market. Timepieces have been a safe haven investment for decades and attracts the world’s wealthiest individuals. The Chronoly project can also solve some of the previous downsides surrounding watch investment, such as storage costs, lack of price transparency, and a high barrier to entry.
The cryptocurrency market has seen its fortunes change with a brutal bear market that was worsened by the fallout from the likes of Terra and its LUNA coin. Once investors lost confidence in the project and pulled their deposits from the platform, the value of the project and its tokens collapsed. Chronoly’s CRNO token will be backed by NFTs of real world luxury timepieces so there is minimal risk of a panic selling event.
Terra and LUNA Collapse After Arrest Warrant
After the collapse of the Terra stablecoin and the LUNA token, the project’s founder Do Kwon announced a recovery plan for the embattled project. This involved a relaunch of the LUNA coin in two forms. Despite a recent recovery for the project, news of a South Korean arrest warrant has seen further losses in the project.
According to recent reports, South Korean prosecutors are moving to freeze digital property linked to Kwon. However, the authority still wants to arrest the Terra Chief on suspicion of breaking securities laws. The authority has requested crypto exchanges KuCoin and OKX freeze 3,313 Bitcoin linked to Do Kwon. The ongoing efforts will continue to weigh on the crypto project in the near term.
Chronoly (CRNO) Brings Trust to Digital Investors
Chronoly has launched at a good time bringing investment in real-world assets via the blockchain. Safe haven investments are popular at the moment due to stock market turmoil and the project can alleviate investors’ fears. The project has launched a 24-7 marketplace for real assets. Luxury timepieces have soared in value since the global stock market rout began with Chronoly improving access to this market.
Chronoly will mint NFTs for each of the timepieces that it owns and investors will be able to use these as collateral. Offering a fractional investment will also bring greater liquidity and price transparency to a market that was reserved for a small collection of wealthy investors. CRNO holders can stake their tokens for an annual yield and there is also an exclusive members club and regular prize draws. Investors burned by the Terra fallout will find a safe haven in CRNO.
For more information about Chronoly.io
Website: https://chronoly.io/
Telegram: https://linktr.ee/chronolyio
Twitter: https://twitter.com/Chronolyio
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