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Highlights
- Presale is a growing trend in the cryptoverse, but enthusiasts must never shun due diligence
- Chronoly and Mehracki are two very new tokens, and their utility will be tested after presale phases
- The overall crypto market is down right now, and established names like Bitcoin are in loss this year
Do cryptocurrencies have any utility in the real world? Can these be used as a currency for day-to-day transactions? Or can these assets create their own new way of commerce?
New cryptocurrencies are making an attempt to project themselves as assets with utility. Only time will tell if they succeed in this endeavour. For now, let us quickly explore two new cryptos, which are currently in their presale phases. In coming months, these assets might get listed on price tracking platforms like CoinMarketCap as well as on exchanges like PancakeSwap.
The two presale cryptos discussed hereunder are Chronoly and Mehracki.
1. Chronoly token (CRNO)
This cryptocurrency promises utility in the space of ownership of luxury watches. It claims the token can “change the way” people buy and sell and even “invest” in watches. The website suggests fractional ownership where multiple token holders can invest in a single watch.
The brands proposed by Chronoly include popular names such as Rolex and Patek Philippe. The platform talks further about converting luxury watches into non-fungible tokens (NFTs), which can be traded. It is also promised that the NFT asset will be backed by real physical watch that it represents. Added features include borrowing by using the physical watch and its linked NFT as collateral.
The presale of Chronoly tokens is ongoing, and phase 3 is due 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 in place to prevent the token’s price manipulation.
Also read: Is Bitcoin to blame for Saylor quitting MicroStrategy’s CEO office?
2. Mehracki token (MKI)
There are discussions on crypto forums that suggest Mehracki could become a name to reckon with in the meme coin category in the coming months. Although only time will tell how bright the token shines, the buzz seems to be supporting the presale phase of the Mehracki token.
MKI bills itself as a “metaverse meme token”, which is community-driven and governed by users. The token, according to the official website, is in its stage 3 of presale, which is due to end on August 22. Aside from being a new meme token on the block, there is nothing new that the Mehracki project suggests. It will have an ecosystem with NFTs, but even other meme tokens are contemplating the same or have already launched their digital assets.
The features of yield farming, NFT marketplace, and community-led governance by way of voting are not at all new in the cryptoverse, which is 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 have utility in the luxury watches ownership space, while Mehracki is about an extended ecosystem with meme and NFT assets. Once the presale phases are over and both the tokens enter the listing stage, enthusiasts might gain more clarity on their performance.
Also read: Who is Ishan Wahi and what is crypto insider trading?
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