Do cryptocurrencies have a use in the real world? Can these be used as currency for everyday transactions? Or can these assets create their own new way of trading?
New cryptocurrencies are trying to project themselves as assets with utility. Only time will tell if they succeed in this endeavor. For now, let’s quickly explore two new cryptos that are currently in the pre-sale phase. In the coming months, these assets could be listed on price tracking platforms like CoinMarketCap, as well as exchanges like PancakeSwap.
The two presale cryptos discussed below are Chronoly and Mehracki.
1. Chronoly Token (CRNO)
This cryptocurrency promises utility in owning luxury watches. It claims that the token can “change the way” people buy and sell and even “invest” in watches. The site proposes fractional ownership, where multiple token holders can invest in a single watch.
Brands suggested by Chronoly include well-known names such as Rolex and Patek Philippe. The platform goes on to talk about converting luxury watches into non-fungible tokens (NFTs) that can be traded. It’s also promised that the NFT asset will be backed by a real physical clock that represents it. Additional features include borrowing by using the physical clock and associated NFT as collateral.
Chronoly token pre-sale is ongoing and phase 3 is scheduled to end in August according to the countdown timer on the official website. The project also promises to have anti-bot and anti-whale mechanisms to prevent price manipulation of the token.
also read: Is Bitcoin to Blame for Saylor Leaving MicroStrategy’s CEO Office?
2. Mehracki Token (MKI)
There is discussion on crypto forums that suggests that Mehracki could become a name to be reckoned with in the meme coin category in the coming months. Although only time will tell how brightly the token shines, the buzz appears to be supporting the pre-sale phase of the Mehracki token.
MKI bills itself as a “metaverse meme token” that is community operated and user managed. The token is in phase 3 of the pre-sale, which is scheduled to end on August 22, according to the official website. Aside from being a new meme token on the block, there is nothing new that the Mehracki project is proposing. There will be an ecosystem with NFTs, but other meme tokens are considering the same or have already launched their digital assets.
The traits of yield farming, NFT marketplace, and community-led governance through voting are not at all new in the cryptoverse teeming with tens of thousands of assets.
Data provided by CoinMarketCap.com
bottom line
Utility is one of the biggest talking points in the cryptoverse. The Chronoly token claims to be useful in luxury watch ownership, while Mehracki is about an expanded ecosystem with meme and NFT assets. Once the pre-sale phases are over and both tokens enter the listing phase, enthusiasts may get more clarity on their performance.
also read: Who is Ishan Wahi and What is Crypto Insider Trading?
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