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  • Writer's pictureConnie Chan

CNP Rookies Finds No Buyers While Chronocatz Thronged By Investors

The growing interest in NFT investment has encouraged several companies to launch new projects. However, the recent bear market has challenged the notion that any NFT can make big profits in the crypto world. For instance, CNP Rookies and Chronocatz are two examples of new NFT projects, however their stats vary drastically. While CNP Rookies is struggling for buyers, investors have queued to make investments in Chronocatz.

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CNP Rookies Keeps Tumbling Due to Lack of Uniqueness

The success of its parent project, “CryptoNinjas,” could not be replicated by CNP Rookies, which is a collection of 7,777 NFT characters. The price of CNP Rookies seems to be going down after a long phase of stagnancy. The current trading price of CNP Rookies is around 0.08 ETH, which indicates a sharp decline in the project’s value, which was about 0.17 ETH last year.

CNP Rookies belongs to the house of the largest DAO in Japan, Ninja DAO, and is a 7,777-NFT collection that features CryptoNinja sub-characters. CNP Rookies was developed to allow small investors and newbies in the sector to invest in NFTs as it offered pocket-friendly PFP (Picture for Proof) NFT avatars. Since the prices of larger projects such as CryptoPunks and Doodles were sky-high and unaffordable for small investors, Ninja DAO had rolled out CNP Rookies.

However, CNP Rookies failed to bring any novel or rare features to the table, resulting in a lack of buyers. Investors are wary of CNP Rookies as they think the project could get overshadowed by several similar projects with uniqueness and utility in their NFTs. Therefore, after tasting success in the initial days of the project, CNP Rookies is now struggling to stay relevant in the current market.

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Chronocatz Replicates the Success of Its Parent Chronoly

Chronocatz, a new entrant into the NFT sector, has grabbed headlines for all the right reasons. It is similarly a collection of 7,777 artwork-based NFTs, and has been recently launched by the team behind the Chronoly project.

While there are many rare traits available for the Chronocatz, the most important among them is the luxury timepiece they are depicted wearing. This watch signifies a rarity tier from 1-6. Other common traits are fur, clothes, and accessories.

Chronocatz holders also become members of Chrono Wealth Club (CWC), a private watch club using a tiered membership system depending on the rarity of the holders’ NFT.

According to the developers of Chronocatz, exclusive parties and networking events will be organized for Chronocatz holders, both in the real world and digital space. CWC members get many additional benefits like exclusive access to NFT drops, higher yields on staking, private auctions, and discounts on trading fees – this is, however, dependent on their membership tier.

Since real-world physical watches back Chronocatz, their value is linked to the price and demand of luxury watches, which have historically risen over time. This unique market advantage has attracted more buyers toward Chronocatz as a stable investment.

Chronocatz’ affiliation with the Chronoly project is another factor that has prompted bullish investment in these NFTs. Chronoly is a blockchain-based watch marketplace that rocked the market in just a few weeks of its launch in May 2022. Even before listing the CRNO tokens on an exchange, Chronoly was able to make investors a return by achieving a 690% return on investment. The ROI of Chronoly is expected to reach 5000% soon. Phase 1 (private mint) of Chronocatz was completely sold out, and phase 2 (whitelist) sold more than 2300 NFTs. Public minting of Chronocatz has started under phase 3 recently as demand continues to climb.

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