Following the NFT craze of 2022, NFT tokens have been plunged into the spotlight. After all, investing in actual NFTs isn’t the only way to profit from them. Instead, you can invest in the projects that facilitate their development and growth. There are two projects on the cutting edge of the NFT ecosystem: Enjin Coin (ENJ) and Chronoly.io (CRNO).
If you’re undecided on where to put your money, read on for a look at what both projects have going for them.
Enjin Coin (ENJ) is the future of gaming
Enjin Coin (ENJ) is the native token of the Enjin platform, an ecosystem designed to let users create, distribute, store and trade digital assets, like in-game collectibles or currencies. The ENJ token was built on the Ethereum blockchain in late 2017, but the Enjin platform has actually been running since 2009.
Enjin aims to be an all-in-one platform with software development kits for games, a tokenization platform, a community management system, a wallet, and a payment gateway available from the moment users step into the Enjin universe. Its primary function is to allow developers and players to create digital assets backed by the ENJ token, giving them real-world value and instant liquidity.
As a result, over 1.2b assets have been created on Enjin, with around 2.3m wallets installed. Clearly, Enjin is doing something right!
Looking at ENJ’s price right now, it seems exceptionally undervalued. It trades for $0.50 as of September 2022, a long way from its peak of $4.85 in November 2021. Considering the projected growth of blockchain-based gaming and play-to-earn, Enjin could be an excellent buy for a crypto-gaming portfolio.
Chronoly.io (CRNO) is shaping the world of NFTs
Chronoly.io (CRNO) has a different utility than Enjin, but that shouldn’t stop you from seriously thinking about adding it to your portfolio. Like Enjin, Chronoly.io (CRNO) aims to link virtual and real-world value. But, they’re even going the extra step in allowing users to redeem their NFT for the physical item.
Chronoly.io (CRNO) has minted several fractionalized NFTs backed by real luxury watches from exclusive brands like Rolex, Audemars Piguet, and Patek Phillipe. Because of their fractional nature, anyone can anonymously invest in these NFTs for as little as $10.
Luxury watch investing has been a well-kept secret by the rich as they realized the simple economics of rare timepieces: very few are made, yet their demand only increases. This leads to price rises and has caused some watches, like the Patek Phillipe Nautilus, to increase by over 220% in the past two years.
The team behind Chronoly.io (CRNO) has created a marketplace for users to trade shares of these luxury watches, an innovation never before seen in this market. Your shares can be bought, sold, and even lent against for liquidity.
These fundamentals have led to over 218m Chronoly.io (CRNO) tokens being bought during presale. Chronoly.io (CRNO) is used for discounted trading fees and can return additional passive gains through staking. At the moment, Chronoly.io (CRNO) is even more undervalued than Enjin (ENJ).
It’s trading for $0.079, up 690% from its launch price of $0.01 in May. By the time presale finishes at the end of September, Chronoly.io (CRNO) could be worth anywhere between $0.50 and $1, returning potential 10x+ gains. If we had to pick, Chronoly.io (CRNO) would be taking center stage in our portfolio over Enjin (ENJ).
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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