In 2020, the Metaverse market was worth $46 billion and was predicted to reach as high as $800 billion by 2024. The expanding market has been welcoming new projects like Chronoly token which is currently in presale and is challenging the success of well-established players like ApeCoin (APE) and Axie Infinity (AXS). Analysts have predicted a strong rally for Metaverse tokens APE, AXS, and CRNO, causing investors to start contemplating the potential for each of these projects.
Let's dive into the details of these three tokens to understand which one makes for a better investment.
What is ApeCoin (APE)
The Apecoin ecosystem consists of the community holders and all products and services that utilize APE.
The Bored Ape Yacht Club (BAYC), launched in April 2021, which is the first NFT collection in the APE ecosystem, featuring 10,000 unique Apes on Ethereum. Every Ape has a unique look, style, and rarity.
Apecoin is the native governance and utility token of the APE ecosystem, a decentralized protocol layer supporting the APE community building in Web 3.0. The APE token is an ERC-20 token controlled and built on by the community, with a total supply of 1 billion coins. The ApeCoin DAO allows all Apecoin token holders to vote on all governance related decisions.
Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) NFT collections, has also adopted APE as the primary token for their new products and services.
As of 13th May 2022, the price of APE coin is $8.59. Based on wallet investor's forecasts for the APE coin, its price is predicted to experience a long term increase, reaching $87.36 by May 2027.
What is Axie Infinity (AXS)
Axie Infinity is a blockchain based game inspired by the popular Pokémon game series. The main difference between Axie Infinity and Pokémon is the integration of NFTs so that players can own and monetize in game assets.
The Axie Infinity game features massively flexible gameplay, allowing players to collect digital monster pets called Axies. These cute monsters can be raised, battled, and traded against other Axies in the expanding Axie Infinity ecosystem.
In the Axie game, players pit monsters against each other to try and win AXS, Axie Infinity's native token. Players can then trade their AXS tokens for other crypto tokens and, eventually, for fiat currency.
As of 13th May 2022, the price of AXS is $21.18. Based on wallet investor's forecasts for the AXS coin, its price is predicted to experience a long-term increase, reaching $364.21 by May 2027.
What is Chronoly (CRNO)?
Chronoly.io is the world’s first fractional ownership marketplace for luxury watches and is powered by the Ethereum blockchain. Individuals can own part of a rare luxury watch from Rolex, Patek Phillippe, Richard Mille, Audemars Piguet and other multinational brands for as little as 10$.
When a watch owner deposits their collectible watch in Chronoly's secure vault, they are authenticated to ensure genuineness and ownership is certified through NFT technology. These watch NFTs are broken down into fractions, and investors can collect the fractional NFTs to attain partial ownership of the underlying watch. The original owner can also retrieve their physical watch from the Chronoly vault by collecting 100% of their watch's NFTs.
CRNO, the utility token of Chronoly, offers its holders staking options in Chronoly's lending pool, discounts on transaction fees, storage, club membership fees and the prospect of winning lottery rewards on a monthly basis.
The CRNO token is already in the first phase of its presale, with a price point starting at $0.01. Based on Chronoly's compelling ecosystem and the exceptional use cases of its NFTs, industry experts predict significant growth in the price of the CRNO token and the market value of the Chronoly project.
Which of these tokens will be a better Investment?
While the price predictions for ApeCoin (APE) and Axie Infinity (AXS) are optimistic, ApeCoin is not supported by cash flow or real assets and Axie Infinity requires a significant time investment to earn positive returns. With Chronoly, the CRNO token is backed by real watches, therefore reducing the risks associated with crypto market volatility. Furthermore, once you purchase watch NFTs, positive returns are a natural outcome as collectible watches only appreciate in value. Therefore, while AXS, APE, and CRNO all have great potential, those looking to make value based investments might lean towards Chronoly for reliable returns.
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