What's up, everyone? I'd love to hear your thoughts on Chromia. It was a strong player back in the last bull market, with some solid projects like Mine of Deliria and Alice built on it.
So where do you think Chromia is heading? Is it going to blow up or is it just another scheme to take advantage of the bull run?
I found some predictions on Coinriders, but honestly, I wanna know what you all think!
It is definitely not a scam project as it is backed by a well-funded (received $50m investment) company called Chromaway.
With its unique architecture - relational blockchain - and interesting NFT tech (a standard that utilizes dynamic NFTs), it will be huge in midterm.
In the next bull, one of the bullish narratives will definitely be GameFi/Gaming and L1s which utilized for that purpose will be huge. Chromia will be running on unlimited tps with sidechains and many strong gaming projects will be running on its blockchain (already My Neighbour Alice and Mines of Dalarnia are on this list).
Also, Chromia will be one of the main official blockchain solutions for European Union and it has a strong relationship with the South America tech scene - already has a land registry project there.
My price prediction in a midterm timeframe (1-2 years) will be around $15-$20 which puts the project around 12b mcap with current inflation (around 10%). I have been investing undervalued L1s since 2014 and Chromia is my next 100-200x project right now.
As always, DYOR and check their website/roadmap and gitlab for their development progress...
checking at their GitLab, the developers are indeed very busy fixing and updating stuff. This is a project that anyone can't consider a scam unless the owner decided to.
With your given information, there is no doubt that this project isn't your typical NFT, or Metaverse stuff, I think this project is well planned and has a solid foundation. I won't argue about this project going 100x, it has the possibility. This is the first time I heard about the project but looking at its structure and activities, I think this is a good investment but of course, always do your own research and never listen or agree on what you read unless you verified thed.
Anyone with high conviction here?
They updated their roadmap and I think it is the right direction they've been moving on... (AI, Robotics, Agentic Eco, etc.)
No, entering that category solely based on a narrative that will fade once the hype is over is not the right choice. We must look at the project as a whole and see whether it's profitable so far, and entering AI when it's too late.
Look at how their token, $CHR, hasn't gained adoption and is simply languishing at the bottom without any movement. I find it very difficult to delve into the depth of their project, financial reports, and other details, to see if they're profitable or not.
That's the 99.9999% of the crypto projects, right now. And it was like that for Matic, for instance, before the adoption hits... Your mindset is a little bit sound "boomer" to me...
Even the financial reports show the project is profitable, it doesn't show that the project will be successful (bear markets, bad timing, poor management of financials, bad actors, etc.)
The narratives like onchain robotics, Agentic Eco etc. will not fade at least a couple of years by the way...
Their project focuses on the scalability of Dapps, basically this could be a solution for data query developers, RWA and Defi or others who need it, it's just how big the potential is for it to be adopted and become the strongest in its field, how long will this project last, they also have similarities with other similar projects in some of the services provided such as the Fetch.ai or Oasis Network projects, what can make you believe in your project?
Talking about the finances they have, I'm very curious, can you show it here, or provide a link to see their development activities, both in terms of their current expenses and revenue, I read their white paper which was issued in 2019, it's quite good for their motivation to create this project, but we also know that in the cryptographic services market it's not just about the vision and mission to survive and develop.
Their tech distinguishes itself from others as they are the first live Layer1 that has relational data structures. This allows developers to use relational database-type development features such as indexability, easy data management, etc.
Regarding the financials and their sustainability, they just bought back 15m $CHR token directly from the market 2 weeks ago. Chromia is backed by a well-funded ($50m 3 years ago, I think) Swedish company called Chromaway. Chromaway is actively building blockchain solutions for European companies, banks, etc.
3rd party developers simply rent their containers on Chromia Layer1 to build their dapps...