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Though global crypto markets have witnessed massive corrections this year, investors have not stopped searching for the future gems. The utility and governance tokens of NFT and metaverse based projects have performed poorly in the last few months but with an exception. Amid the gloomy environment, CRNO, a new utility token from NFT-based watch marketplace Chronoly.io (CRNO), defied the dominant market trend, rising by 690% during its presale phase, which sold out and concluded recently. While the new player has attracted investors, popular cryptos like Gala (GALA) have taken massive falls in the ongoing bear market. Here’s a look at what is happening with Gala (GALA) and what is making Chronoly.io’s (CRNO) token so attractive.
Go, Gone, Gala…
Gala is associated with metaverse and online gaming. Founded in 2018, Gala Games ecosystem is a blockchain network that uses non-fungible tokens (NFTs) as a means to help players take ownership of their game items. The NFTs can be traded and sold within the Gala Games ecosystem. The network is powered by Ethereum-based GALA tokens that are transferable between users.
GALA token had a bullish run in 2021. It started gaining traction in September last year after listing on centralized exchanges. The token touched an all-time high (ATH) of $0.82 on 26 November 2021. However, the bullish trend did not last long for this token.
Despite the hype around play-to-earn tokens, GALA’s price has fallen over 93% from the ATH, according to CoinMarketCap data at the time of writing. During the recent crypto market crash, GALA token price fell to as low as $0.0456 on July 13, 2022. It is currently trading at around $0.05 and ranks 101 on CoinMarketCap.
Why investors are loving Chronoly.io
Ethereum blockchain-based Chronoly.io (CRNO) is the world’s first 24/7 watch investment platform that makes it possible for anyone to own a share in rare and exclusive timepieces from popular brands such as Rolex, Patek Philippe, Richard Mille, and Audemars Piguet.
Chronoly.io’s (CRNO) utility token, CRNO, is expected to become the next metaverse supercoin. The platform has made it possible to own a luxury watch, or a share of it, in real life and in the metaverse as an NFT. During the nearly sold out presale phase, CRNO token attracted scores of individual investors who incurred heavy losses from other digital assets due to the crypto market crash.
Each NFT offered by Chronoly.io (CRNO) is backed by real luxury watches held in secured vaults. As these NFTs have some real-world value, analysts are bullish over the future of CRNO tokens ahead of the full launch, which is expected to take place soon.
CRNO vs GALA: What to expect in future
Wise investors never take the past performance of a token as a cue for making their investment decisions. They put more focus on the future potential. Based on this investment philosophy, Chronoly.io (CRNO) seems to be at an advantage compared to GALA.
While Gala Games have made significant progress during the bear run by securing more funds and launching new NFTs, the price of GALA token has failed to move up, indicating weak investor sentiments. Moreover, the future of most of the virtual digital assets is currently bleak as investors are now looking for real value that goes beyond hype and celebrity endorsements.
GALA too had endorsements from famous rapper Snoop Dog and celebrity Paris Hilton. But such endorsements have failed to stop the GALA crypto price from falling further. In contrast, Chronoly.io (CRNO) token price has skyrocketed without much hype.
Genuine investors are seeing value in Chronoly.io (CRNO) project that offers the best of two worlds. The owners of Chronoly.io (CRNO) NFTs get real world value as well as metaverse value. Thus, the utility token of the Chronoly.io (CRNO) marketplace is in a strong position to rise fast in future.
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Socials: https://linktr.ee/chronolyio
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