Chronicle (XNL) is a cryptocurrency that functions as a utility token for the Chronicle platform. This platform serves as both a publisher and marketplace for officially licensed digital collectibles, commonly known as NFTs. Launched in 2021, Chronicle allows you to buy, sell, trade, bid on, and gift authenticated digital collectibles licensed directly from top entertainment brands.
The XNL token offers various incentives to its community, including premium access to limited edition collectibles, discounts on trading fees, voting rights in governance, and rewards like bonus collectibles and staking incentives.
Chronicle is built on the ERC20 token standard, ensuring compatibility and robustness within the Ethereum blockchain ecosystem. This setup not only secures your transactions but also ensures that the tokens are part of a widely recognized and utilized blockchain framework.
Chronicle (XNL) works by utilizing its token, XNL, within a digital platform that focuses on creating, trading, and managing NFTs (non-fungible tokens) linked with entertainment brands. Here’s how you interact with the platform:
1. Buying and Trading NFTs: You can use XNL tokens to purchase, sell, and trade digital collectibles on the Chronicle platform. These NFTs are officially licensed digital versions of artwork, collectibles, and other media from various entertainment brands.
2. Participation and Rewards: Holding XNL tokens also allows you to participate in governance decisions using DAO (Decentralized Autonomous Organization) principles. You can vote on certain decisions affecting the platform’s development and operations. Additionally, you can earn rewards and staking incentives based on your activity and token holding.
3. Gaming and Entertainment: Chronicle integrates a gaming zone called Gamezone, where you can use XNL tokens to enhance your gaming experiences and participate in play-to-earn (P2E) opportunities. This is part of their broader vision to merge digital collectibles with interactive entertainment.
4. XNL Token Utility and Platform Benefits: Besides buying collectibles and gaming, XNL offers utilities like exclusive access to limited edition items, merchandise purchases, and lower fees on transactions within the platform.
Chronicle (XNL) was launched in 2021. The founders of Chronicle are Tim Glover and Jim Jin.
Shortly after its launch, Chronicle launched its platform with features like the Chronicle Store for NFT drops and auctions and the Chronicle Marketplace for secondary sales of NFTs. They introduced a redeemable NFT service allowing companies to add redeem codes to physical products, which users can claim as free NFTs.
Chronicle expanded into gaming with the Chronicle Gamezone, an area for immersive web3 NFT games designed for the next generation of online gaming.
The XNL token is used primarily within the Chronicle platform for a variety of functions related to digital collectibles and entertainment experiences. Here’s how you can use the XNL token:
1. Purchasing NFTs: You can use XNL to buy officially licensed NFTs on the Chronicle platform. These NFTs range from digital collectibles to unique digital art and more, all licensed by renowned global brands.
2. Gaming: XNL fuels gaming experiences within the Chronicle ecosystem, particularly in the Gamezone, where you can engage in various P2E games.
3. Staking XNL on Chronicle: By staking XNL tokens, you can earn revenue share rewards. This means you can receive a portion of the earnings from various activities within the platform.
4. Exclusive Access and Rewards: Holding XNL tokens can give you access to exclusive rewards such as special discounts, limited edition collectibles, and other unique offers.
5. Voting and Governance: XNL allows you to participate in governance decisions on the platform, influencing key aspects of its development and operation.
6. Trade XNL on KuCoin: Trade Chronicle crypto on the KuCoin Spot Market by buying and selling it against other listed cryptocurrencies based on your research (DYOR). You can also HODL $XNL if you believe in the future potential of the Chronicle platform or the overall GameFi market.
Period | Change | Change (%) |
---|---|---|
Today | $0.00016 | 2.15% |
7 Days | $-0.001 | -11.39% |
30 Days | $-0.00137 | -15.01% |
3 Months | $-0.0036 | -31.80% |
The tokenomics of Chronicle (XNL) involve a total supply of 100 million tokens, which are allocated across various segments:
1. Public and Private Sales: The initial coin offering (ICO) of Chronicle was divided into different phases, including a Seed sale, a Private sale, and an Initial DEX Offering (IDO). The ICO price was set at $0.10 per token during the IDO, and they raised around $280,000. The Private sale had the tokens priced the same but raised $2.1 million, and the Seed sale priced tokens at $0.075, raising $840,000.
2. XNL Token Distribution
> Seed Sale: 11.2 million XNL (11.2% of total supply)
> Private Sale: 21 million XNL (21%)
> Public Sale (IDO): 2.8 million XNL (2.8%)
> Advisors: 5%
> Team: 15%
> Community: 5%
> Foundation: 10%
> Liquidity: 15%
> Licensing & Partnerships: 15%
3. Vesting and Unlocking: Tokens from the Seed and Private sales have specific vesting schedules. For example, in the Seed sale, 15% of tokens were initially unlocked at the Token Generation Event (TGE), with subsequent releases over time. Private and Public sales had their own vesting schedules to control the distribution of tokens into the market.
4. Use of Funds: The funds raised from these sales are generally used for platform development, marketing, liquidity provision, and expanding the ecosystem.
Investing in Chronicle (XNL) offers several potential advantages:
1. Access to a Unique NFT Marketplace: XNL is integrated into the Chronicle platform, a marketplace for officially licensed digital collectibles. This gives you a stake in a platform that bridges popular culture and blockchain technology.
2. Utility in Diverse Activities: XNL tokens are used for various activities within the Chronicle ecosystem, including purchasing NFTs, accessing exclusive rewards, and participating in governance through DAO mechanisms.
3. Potential for Appreciation: As the platform grows and adds more features and partnerships, there's potential for the value of XNL to increase, especially as it becomes more integral to transactions within the platform.
4. XNL Staking Rewards: If you hold XNL tokens, you can stake them to earn rewards, adding a passive income component to your investment.
5. Early Stage Opportunity: Getting involved in a project like Chronicle in its early stages could provide higher returns as it matures and expands its offerings and partnerships.
While it is impossible to offer a reliable XNL price prediction, understanding these factors can help you gauge potential price movements and make more informed investment decisions:
1. Crypto Market Sentiment and Popularity: General sentiment in the cryptocurrency market and the specific popularity of XNL affect the Chronicle crypto price. If the crypto community shows increased interest and the token gains more users or holders, the $XNL price will likely increase.
2. Future Developments in the Chronicle Ecosystem: Advances and updates in the Chronicle platform, such as new features or partnerships, can positively impact the XNL token price as these developments typically attract more users and increase token utility.
3. XNL Token Liquidity and Trading Volume: Higher liquidity and trading volumes on exchanges where XNL is listed can lead to price stability and potential increases. More trading activity often attracts additional attention from traders and investors, impacting the XNL to USD price dynamics.
4. General Market Conditions: XNL is subject to broader market conditions like all cryptocurrencies. Price volatility in major coins like Bitcoin and Ethereum can also influence the XNL crypto price movements due to the interconnected nature of the crypto market.
Complete Tasks to Earn Free Tokens Every Day