Chronocatz Offers Shelter from Bored Ape SEC Scrutiny

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The Chronoly (CRNO) project was launched recently with 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 Audemars Piguet and Rolex. The latest release from the Chronoly team is the Chronocatz NFT collection, which is 7,777 exclusive cats with rare features and private members club access.

Bored Apes Yacht Club was the phenomenon of the NFT market last year, but the news last week that the SEC regulator was looking at the project’s release of ApeCoin and NFT collections, which they said may be classed as securities, could affect the price. A similar case was brought against the Ripple XRP token, and the project has been locked in a court battle for nearly two years.

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Bored Ape Yacht Club Feels SEC Heat

The Bored Ape Yacht Club founders, Yuga Labs, were investigating to see if digital assets’ sales violated federal law. The focus was on Yuga’s non-fungible tokens and whether they should follow the same rules as stocks. In March 2022, Yuga Labs received a $4 billion valuation after a $450 million capital raise. That is huge money for a design studio, and investors see future value with the pipeline of planned drops.

The problem is whether the SEC will take further action and create a headwind for the project. The other issue with this project is they are expensive. Bored Apes have a floor price of 78 ETH, around $100k for one NFT, so it is reserved for the wealthy. Investors in NFTs shouldn’t be chasing after those prices, and if the SEC took action against Yuga Labs, it could cause a sharp drop in the price of the BAYC collection.

Chronocatz Can Provide Shelter from SEC Storm

Chronocatz NFTs can shelter investors from the BAYC SEC scrutiny. Each Chronocatz NFT is minted against luxury watches, so there is no SEC jurisdiction on global watch brands. The tokens are also sold separately and not dropped to Chronoly investors. Luxury watches have held their value for decades and rallied again this year due to a stock market sell-off. Investors see luxury timepieces as a secure investment to hold while there is still so much volatility in the traditional markets.

Chronocatz NFTs comprises 7,777 unique cats wearing luxury clothing and a luxury watch. The watch determines the rarity value of the NFT with a tier system of 1-6 and unlocks the door to the Chrono Wealth Club for members-only rewards and access to the community. Exclusive watch drops on the Chronoly.io marketplace, private auctions, and trading discounts are all available. The project will also have a vibrant community with networking events and parties. Investors should understand that paying $100k at the floor level for an NFT could be getting involved very late in the game, and should be looking for the next big thing, which could be Chronocatz.

For more information about Chronocatz.io

Website: https://chronocatz.io/

Telegram: https://linktr.ee/chronolyio

Twitter: https://twitter.com/Chronolyio


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