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Interview With Chronicle’s Co-Founders Jim Jin & Tim Glover The New NFT Marketplace

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By: cryptotravelsmichael
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Michael  0:00

Today’s episode is all about Chronicle. chronicle is a studio and marketplace digital platform built entirely for fans featuring officially licensed digital collectibles NFT’s. Today I have the co-founders, Tim and Jim here, and we’re going to unpack all of the golden nuggets about this hot new marketplace. Discover the recent partnership that chronicle did to offer NFT’s with animal planet and Discovery TV. Definitely do not miss this episode. It’s action packed.

Welcome to the New to Crypto Podcast designed to guide you through the crypto landscape with pinpoint accuracy created for the new and intermediate crypto investor. Join your host Crypto Travels Michael as he takes you through the different facets of getting started and succeeding in your crypto journey. New to crypto podcast brings you new episodes daily Monday through Friday with surprise bonus episodes sometimes on the weekend. Let me ask you, are you new to crypto and don’t know where to start? Are you more experienced but have questions? Then you’re in the right place. This podcast is designed for you coming at you from the Trading Center and the Lifestyle Dezign Studio. Here’s your host Crypto Travels Michael.

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Check out this interview I just dropped today. I have the CEO and co-founder here from a hot NFT platform who definitely listened to this one the entire way through for tons of gold nuggets. The new to crypto podcast, which currently has listeners in 149 countries in over 3500 cities around the world. I’m excited to have Tim in Jim from chronicle here today. Guys. Welcome to the show. It’s a pleasure to have you here.

Jim  2:15

Thanks Michael, thanks for having us.

Tim  2:17

Great to be here. Thanks, Michael.

Michael  2:19

Absolutely. Hey, before we dive in, can you just share a little bit about yourselves with our audience?

Tim  2:24

Sure. Yeah. I’ll go ahead. So my name is Tim, I’m the CEO and one of the co-founders of Chronicle. I’ve been into crypto and blockchain I guess, since the September 2017 Bull Run. And I’ve got a background which is really fan focused. In the film and entertainment world. I’ve done a little bit of work on the digital marketing, and digital immersive experience side with Jurassic Park. And for the Jurassic World movie and Jurassic World fallen Kingdom movies, which came out in 2015, and 2018. And kind of working with a major studio and fan bases across the world. I’ve always been looking for a way to kind of tie that in with Blockchain. And I think chronicle is that answer, and I’m really excited to get into it today.

Jim  3:12

Cool. And hi, everyone. My name is Jim. I’m one of the cofounders of Chronicle as well. And my background is in software engineering. But I stopped coding several years ago, and started to jump into the business side of blockchain and crypto in 2017. I was involved with several blockchain projects, and also crypto VCs like Jr. Crypto back then. And also, I was one of the seed investors for Thor chain, and also work with a geospatial technology company in Australia. And also, I set up my own crypto investment firm in Singapore. And I think this last year 2021, after the discussion with Tim and the other co-founder of ours, Amir, we came up with the idea of Chronicle and we think is really going to make an impact and a difference to the existing NFT ecosystem, and landscape. So I think that’s how we started.

Michael  4:17

Awesome. Thank you guys for sharing a little bit about yourselves. Hey, we’re gonna dive into Chronicle and all the different facets of Chronicle. But in a nutshell, can you share with our listeners, what what is chronicle

Tim  4:30

Chronicle is basically a NFT enclosed ecosystem for brands and fans to connect with this new thing called NFT’s. We built Chronicle on the premise that, you know, for the average person to you know, get into the world of NFT’s you need to understand first of all, you know, what’s Ethereum what’s a Metamask wallet, how do I get Ethereum and I have to registered on an exchange, I have to do my KYC, then I have to like, you know, move that Ethereum to my metamask… Metamask wallet, and then connect on a decentralized NFT platform, a little bit of a, you know, daunting… process for anyone that’s kind of new into the space. And we really saw the opportunity to create something that’s a little bit of a first step, I guess, for fans and brands to to basically get into this world where now we basically look after all of the complexity on the crypto side. But we offer a platform where users can simply register by the email address or a single one click registration, if you’re on Google, or Facebook, all of the collectibles are kind of nicely presented in the platform for you, you can purchase them with a credit card. And when that collectibles purchase, it stays within your user profile of your Chronicle account. You know, that’s really the opportunity that we saw to create something easy to use and simple without any sort of crypto in there. Oh, hell.

Jim  6:06

Yeah, I think just as Tim said, I think putting, because I’m from an engineering background, so I’m putting the engineering term Chronicle for now as both a creative studio and also a NFT marketplace. So we help with brands and IPs to help build their kind of gateway to plug them into the NFT world and use NFT as a like new way of engaging with their fans, and a new way of marketing a new way for the users of like owning something of the brand or merchants of the branded digital world and merchants of the brands. So they use this new way to connect brands and fans so that we can generate some added value.

Michael  6:49

Okay. So, chronicle is a studio and marketplace digital platform built entirely for fans featuring officially licensed digital collectibles, NFT’s. I got that from your content online. So what do you guys mean by Chronicle’s studio and marketplace digital platform? Because as you know, our listeners are gonna definitely be clicking over to your site. And can we kind of unpack that component, that part of it for them?

Tim  7:16

Yeah, it’s essentially two sides to the business, Michael. So what you see if you’re, you know, kind of a crypto user and a fan is you’re presented with a platform that you can register on, and you have access to officially licensed digital collectibles from different brands across the entertainment and gaming and toys, toy categories. The other side of the business is that we recognized that, you know, a lot of these real world and very well established brands, which have been around for many decades, you know, they’re reading articles, like, you know, like people selling a $69 million RPS, and like NBA top Shots making, you know, a quarter of a billion dollars worth of revenue. And they’re like, how do we get into this, but they don’t, they don’t know how, and there’s very few companies in the world at this moment that are offering the full, you know, service of, hey, we will take your hand, we will sit you down, let’s go through the whole process. And Chronicle is one of them. And so when Jim correctly states that we’re a studio, as well as the platform, that’s what we mean. So we will actually sit down with the brands and work out the strategy of you know, hey, what are some elements of your IP or brands that your fans would absolutely love to, you know, engage with in terms of, you know, if we were to create those as digital collectibles, if the brands has their own art department, and they’re comfortable with creating the collectibles, that’s great. If not, then we have an entire animation team that is part of the chronicle that will do that for them. Such as if you’re familiar with La Chronicles already put out at the moment, we’ve got Paddington Bear that was one of the first IPs and brands that we launched with has been around for decades. They’ve had movies, books, cartoon shows. And it was actually the Chronicle animation team, which took these really old when I said really old, but you know, illustrations from the 1970s class and classic classics a better term and

Michael  9:20

Are born in the classic.

Tim  9:24

Oh, sorry. Sorry, listeners. Oh, yeah. So. So we basically took these 2d assets and made them in such a way that they were animated as part of the NFT almost as if the viewer was seeing them sketched in real time and called it in real time. And those assets were actually from an artist called Ivor work. And not many people around the world have actually seen or been able to collect over with assets typically, the Paddington Bear illustrations are from another artist called Peggy Fortnum. And so this was just an opportunity that we identified for fans of Paddington to be able to get access to, to something that was a little bit more rare. So yes, we are a fully full service offering for the brands with our studio, we also look for ways to add utility to the NFT’s as well, which is very important. And that’s probably where the future of NFT’s is heading now. So we’re very conscious that we’re looking for any kind of way that we as a studio could collaborate with the brands to to actually add more utility to these NFT’s. One example of that that we did was with another brand, Penn and Teller fool us, the television show in the US, that’s on the CW Network. And so anyone that had purchased a collectible early on, was also given a special access link to behind the scenes content from Penn and Teller. And so that was just another way that we could sort of, you know, look at adding utility to those NFTs. We did the work on the NFT side, and the CW sort of put together content from their side as well that fans could directly access once they were collecting those NFT’s. Awesome.

Michael  11:09

Awesome. Thanks for explaining that. I also saw in your store that you have puppy bowl NFT’s currently available crypto puppies, if you will. Is this something that you’re doing with Animal Planet Discovery TV, something similar to what you mentioned with Paddington or? Yeah, that’s

Tim  11:25

Right. So we’re really excited actually, to have launched a collaboration with Animal Planet and Discovery for their 2022 people. As it turns out, we’re actually the first NFT platform in the world that has managed to do something with Discovery Animal Planet, and we’re really proud of that. And one of the main reasons why we’re able to get that opportunity to begin with is because of the eco-friendly technology blockchain that we’ve partnered with that is Near Protocol and Aurora. But yeah, it’s a it’s a fantastic, you know, opportunity, a fantastic collaboration, we’re really excited by the actual proceeds from the NFT sales are going to a charity called Orange twins rescue, which is a la based Animal Shelter charity that’s set up by Ariana Grande, and her two friends. And so we’re always looking for opportunities with chronic little to do initiative, so good causes, and anything that can go towards a charity, were really excited to collaborate in that manner.

Michael  11:35

Absolutely. No, that’s a that’s, that’s really awesome that you guys are, you know, proceeds from the sales are going to go into that charity. Let’s segue into the different components of Chronicle for a moment. In your whitepaper, you talk about the problem in the beginning, and then present the solution with Chronicle. Can you unpack how chronicles are making it easier for people to sign up, purchase and hold digital collectibles?

Tim  13:02

Yeah, I think I can probably begin from the fan perspective. And Jim really explains it well, from the technical perspective, but the way that the RE identified the problem to begin with was actually an early phone call in and I would say around March 2021, where we had a conversation with one of the studios in LA. And it was quite a candid conversation. And we knew that they were looking at the NFT space. And we basically were asking, Hey, you know, what kinds of collaborations would you be interested in? If there was a technology partner? What kind of features would you be looking at to, you know, sort of move ahead with NFT’s in this space. And that conversation really got us thinking and began what we know today as the Chronicle whitepaper. And we really identified some of those things I mentioned early on how you know, it’s really a small percentage of the world population at the moment, that not only gets crypto but actually understands how NFT’s work, and the process required to get into the space of NFT’s. So some of the problems we identified were around the complexity, as I mentioned, of, you know, having to store and manage your private digital wallet, being able to get onto an exchange and get access to Ethereum. And some of you know, obviously, what we’re wanting to do as well as bringing in officially licensed brands, from you know, the world of entertainment, games, toys, etc. And yeah, there is also obviously some, you know, education, I suppose that has to go into that to bring them into the world of doing NFT’s. And so the best way forward is something like Chronicle, which is basically you know, for the brands, it’s a centralized solution with a company that they can work with, to onboard their brands into the world of digital collectibles. And from the perspective of the fan base It’s something that they can get into where they don’t need to understand how a theory works? How does the blockchain work, I can just kind of like a social media network, I can go to Chronicle.io, I can click on Register, I can click one click registration with Google and Facebook, and I’m in. And to purchase a digital collectible, I can use something as simple as my credit card. And I’ll have a digital collectible minted within 30 seconds after purchase. And that collectible is stored in my user profile. So you know, I log out, I pick up my phone, I log back in on my phone, and my collectibles in my phone basically travels with your user profile.

Michael  15:42

Okay, thanks for breaking that down.

Jim  15:46

Yeah, I think just adding a little bit. So I think NFT is actually from the web three community. It is more like a technology is an ownership verification technology, based on blockchain. So when you build a business or product, when you say, Oh, this is a product built for NFT, or based on blockchain technology, it feels like when it’s popularity, it feels like oh, this is Instagram is a photo sharing platform based on JPEG compression, technology, something like that. So you don’t want that user to have that experience. Because they don’t care about the technology that built the thing. All they care is whether the ownership is authentic, and then how the digital assets are looking. So based on that promise, and also the statistics that most of the fans over 95% of any brands and IPS we call the nine coiners. They are not familiar with crypto or blockchain or wallet or anything, we don’t really want to create that hurdle for these users to come onto a platform and engage with brands engage with other fans, like so that’s why we want to remove completely off the complexity of blockchain from the system so that both the brands and defense tech communicate, can engage can interact with each other, purely just based on the contents itself.

Michael  17:15

I really like that. I like how you’ve you guys are actually mindful about the simplicity that’s needed in the industry, specifically for people that may be new to crypto, which is, you know, a big part of our listener base right here on the show. And no, I think it’s great. Let’s go into another thing in your white paper, you have a graph that visually displays the Chronicle ecosystem, and how everything ties together. I love it. By the way, it’s actually up on my screen. Can you share with our listeners a little bit about that? Because I know we’re gonna get into all the different components, if you will, you know, one by one and Chronicle. But can you kind of share a little bit about that?

Tim  18:00

Maybe, Jim, that’s, that’s yours.

Jim  18:02

Yeah, sure. I think that the ecosystem is kind of initially where chronicle is trying to build. Now we have some, like the latest modification to it. But the idea still remains the same. That we want to have. First we have a chronicle store. So unlike other NFT, platforms, all the… all the NFT’s on chronicle are officially licensed directly from the brand, which means we have brands that on boarded, it’s more like the brands come here and open their own store, and they drop their own NFT instead of building an open platform where everyone can come here and meet their NFT. This gives brands more credibility, and also creates a kind of authenticity within the structure trying to build like an Apple Store. Not everyone can publish an app right away, you need to be recognized as a certified developer or a company that can release an app. And the app needs to be verified, the app needs to be reviewed in order to be able to download it by the mass majority. So that’s kind of the store section. And also, once NFT is dropped from the brands and people purchase it from the recorded primary market, then we need to have a secondary marketplace where users can interact with each other to trade between them. The NFT’s, they can trade, they can auction, they can give gifts so that we want to have a place that encourages the circulation of these digital assets because that’s the key for NFT is by using the digital ownership verification technology. The asset itself can have better liquidity. I think that’s a prime promise of NFC technology. So we really need to have the second marketplace. To encourage the floor, and on top of that, yeah, on top of that we have other complementary components you see on the chart. And another big part is the Chronicle studio, where we provide what we call a comprehensive NFT as a service to brands. So it’s like we have a huge marketplace that not only gives you a booth, but also we have a team working with you to help you decorate or renovate your booth and tell you how you should market your NFT. Or how you should project the finance of your nanty how you should do the animation, how to kind of schedule out the drop of the nicotine and all that will provide all that service to the brands so they don’t feel kind of left alone and just like purely depending on their own attraction of their own IPs.

Michael  20:53

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Tim  22:07

Yeah, so NFT drops being on the storefront and that’s currently live at the moment. So when we say NFT drops, what we’re basically saying is, hey, we you know, we’ve partnered up with the brands and, you know, is an officially licensed collectible, which is available now for sale. It’s currently on our new drops page. And that collectible can be purchased at this moment in time. Typically, when we engage with a brand, you know, we come up with a strategy of you know, what, what’s what we have identified in their brand or IP that is worth collecting. And then we actually create a series of collectibles based around that and we create a schedule and most of our ground engagements are quite long term. You know, we’re a relatively new company. But these partnerships that we have are going to be going for at least two to three years. And so it doesn’t really make a whole bunch of sense to us to necessarily drop, you know, let’s say 100 collectibles all in one day, we spread them out over a period of time. And that’s basically what we’re saying when we have a drop, we have a collectible that’s basically ready to collect. And usually it involves a physical collectible center if you’re familiar with basketball cards or trading cards, we basically set a price point and a number of meetings that are based around that single collectible. And we pick a rarity level as well. So that could be common, rare, epic, legendary, and sort of what’s the what’s what’s the what’s the number one Jim?

Jim  23:43

We call it immortal?

Tim  23:44

Immortal? Immortal? Yeah, we haven’t had any mortals yet. So that’s that’s why I did take me a little bit while but Immortal is basically a one of one collectible very unique, very rare we have

Jim  23:55

that for I’m your man.

Tim  23:58

That’s true. We did have that from I’m your Man. And we also have it up and coming once our auction house opens very, very shortly for people. Those we will be doing to Immortal NFT’s as well there.

Michael  24:10

Okay. Let me ask you what… Because our listeners are going to, you know, head over to your site and see everything you know, before they have the question in their mind. Maybe we can explain to him. What are your NFT mystery boxes?

Tim  24:25

So NFT mystery boxes at the moment aren’t alive, but they’re a part of our development roadmap. The idea being quite similar to other NFT drops if you’re familiar where you basically have a set of collectibles in a ranch but you don’t actually know which one you’re going to get when you make a purchase. At present. When we do an NFT drop. You do know what you’re getting when you purchase it. But we will be moving to another model where for instance, there could be maybe 10 Different collectibles to collect or there could be in the case of some of the you know Bored Yacht Club collectibles there might be 40,000 different unique collectibles to collect. And the point there with the mystery pack is when you make a purchase that card is revealed to you as a post purchase. And so that’s something that we’re actively working on at present as well as discussing with many of the brand partners that also haven’t been announced yet. So that definitely watches the space.

Michael  25:24

Okay, so we’ve covered your Chronicle soar marketplace to NFT drops to mystery boxes. Lastly, right here in the little shortlist is let’s talk about your NFT premium auctions for a moment. I know you kind of touched on it previously, you guys did, but what are your premium auctions?

Jim  25:44

Yeah, I think the auction is quite straightforward. It is just the model of a sale where the price is not set. And then people will be able to, during the opening of the auction, place their bid off the very rare NFT, then whoever bids the highest when… when it closes, then will get the NFT. So it’s just like, it’s a very, I think, straightforward model. We are exploring different auction models. But I think initially we just implement the very basic auction model.

Michael  26:21

Okay. And I saw that you chose near protocol when building actually you guys mentioned it earlier. Can you share with us why you chose NIR in how it benefits Chronicle?

Tim  26:34

Actually, this actually, the first reason why we chose NIR is actually something that we probably should have mentioned earlier in the call, which was about, you know, one of the complexities of getting people are expecting users to come into the world of NFT’s and some of the adoption barriers as the high gas prices on the Ethereum network. So we couldn’t really justify users coming onto Chronicle and paying $20 for a collectible, but then having to pay a 60 $60 gas fee, you know, that didn’t didn’t really add up. And so we were looking at different blockchain solutions very early on. And, you know, we did have a very nice introduction to Near Protocol through one of our other co founders. And we very quickly discovered that not only new to them have a faster blockchain time. And the transactions themselves were, you know, within just a couple of cents or less, in fact, but they were also working on an Ethereum virtual machine at the time, something that could basically, you know, work and act just like Ethereum, but you’re pointing to a different network that basically runs, you know, much faster than Ethereum. And, you know, 1,000th of the cost. And that ended up being initially free, initially free, they just actually turned it just letting it go. Yes. Yeah. But that network is Aurora. And we were actually one of the very first platforms, let alone NFT platforms using Aurora, we actually were using it back in September. So I think we will probably, literally maybe the second or third platform using the Aurora network, which was, you know, just feels this perfect timing, I guess. And that that was the first reason you know, we wanted a blockchain that was fast and efficient and cost, you know, minimal costs, because ultimately, when you think about Chronicle, we’re not actually asking the users to pay for the gas fee, we are paying for the gas fee on behalf of the user. And so we just had to ensure from a business perspective that we were choosing the right blockchain. But another component to this is that the protocol actually has a carbon offset program. And they have a tree planting initiative with three different forests across the globe. And so we identified that as a very good win, to be working with a proof of stake that proof of stake network that has a carbon offset program. As it turns out, the brands that we’re engaged with every day 99 out of 100 times they the brand is asking about, you know, the environment, carbon offset with regards to blockchain because they’ve seen a little bit of the criticism, I suppose, on Twitter and other articles, etc. I’m talking about NFT’s and so they just wanted to ensure that, you know, if they are going to go go into the NFT space there, they are working with a company like Chronicle that is utilizing green technology solutions, which which has been fantastic for us and I would go as far as saying that decision to use Near and to use Aurora, you know, really helped us you know, get IP properties like Paddington, and like discovery and Animal Planet.

Michael  29:48

Awesome. Awesome. That leads me into your token, you know, since we covered near and what you built on and I love your tokenomics of 100 million fixed supply for your token. And I personally actually prefer to invest in Hodl tokens which have a lower overall supply. Can you share with our listeners a little bit about your token, what it’s called? And then we’ll move into the utility token utilities.

Jim  30:16

Sure. So our token chronicle Token is the ticker is XNL. I think we started from, like ZNL now to write

Tim  30:27

Something like that, there was a little bit of internal debate about what our ticker should be, yeah. Yeah, whether it was worthwhile starting with an X or somebody else. Yeah.

Jim  30:39

XNL. To me, it sounds like SNL is the one of the favorite shows that I like in the US. So yeah, later, we decided to just name it XNL. And a token is, as you can see, we have 100 million fixed supply. And we started really humble with a very low valuation of $10 million. And we sold 35% of our tokens private seed private and the public round. We were heavily oversubscribed for each round. And then we did our public round with our partner Dollmaker, one of the top ideal platforms out there and for that we did a burning job, and then we can list it on Kucoin and then Gate.io. And we’re doing pretty good and being pretty sorry, doing pretty good for that Yeah. And on a token wise, token utility. First is we are implementing various utilities including using XNL as a payment you can use for a DeFi purposes. You can use it for auction, you can use it for discounts, or basically the and also do Decentralized Governance, basically the most of the very basic DeFi utilities that people can think of. And on top of that we can tie it together with some of the benefits with the brand’s IP, and also the NFT is, say some very limited edition, NFT’s will be only available via, like purchasing with XNL or auctioning with XNL and stuff like that.

Michael  32:17

Awesome. And your XNL tokens can also be staked. Yes. On the DeFi side, I believe I read something. How can people receive rewards for staking? How does that work?

Jim  32:27

Yeah, currently, we have staking programs with a few partners like tokens farm and also we have staking pools on Kucoin and gate. Users can either stake like just XNL tokens on there and yield a passive income over the locking up how long they lock their tokens, or you pair it up with USDT or on Binance smart chain’s BUSD. And then you can stake the LP token, liquidity pool token and then yield a passive income.

Michael  33:00

Okay, excellent. Under your Token utility you also have chronical metals. What are they?

Jim  33:07

Yeah, so Chronicle metals is we want to create our native an anti like Chronicle NFT’s, and we call it a chronicle metal. And those medals are billed as a recognition for the user’s sacrifice or their contribution to the chronicle ecosystem. One way to get it is for you, if you stick XNL for a certain amount of time, and then you’ll be recognized to have a Chronicle metals like a real like a like a reward badge, and you can put it on your Chronicle account to get people know that you have this you’ve been recognized as a like a Chronicle, Chronicle soldier, Chronicle general, what have you. And then also because it is an NFT, it has liquidity, you can trade it on the secondary marketplace so that you can monetize on this Chronicle metal as well. If people think that Chronicle metal will increase in value, they can invest in it as well. So that’s how, basically the, the logic in there so far the second secondary marketplace we have is fully developed, but we haven’t released it yet because we are waiting on some kind of paperwork on the compliance side to be completed before we can really push that functionality out. And right after that, we will have Chronicle metal and also Chronicle auction all that will be released to the platform.

Tim  34:39

It’s gonna it’s just gonna add to what Jim was saying, I suppose for our listings, trying to conceptualize that if you if you think of a video game, like a Call of Duty or something and you play it for hours, and then you kind of see your your level and your progress go up from like a level one, level two, level three, up to like level 50 Imagine you know, kind of being able to separate that from your user accounts as an NFT, and then sell that in a marketplace, that’s kind of the concept that you can begin to conceptualize around the ground, the Chronicle metal system, it’s something that will attach itself to your user profile, it can be traded. And it basically, you know, allows people to sort of see where you’re at in terms of the ecosystem, but it also entitles you to many different perks within the Chronicle ecosystem as well.

Michael  35:29

Awesome. I really like I really like the Chronicle metals and and also your guys’s creativity in designing your, your entire overall platform and all the different, you know, facets of it, I see you even have a charity component where XNL tokens can be used to donate to charity partners who came up with this idea, man, this is great.

Jim  35:50

If you think of a charity, the thing is, especially in the US, you have VOA, and all those charities people donate, or even the like, religious charity, people donate, and then in return, they got maybe a tshirt, a pen or notebook. So it’s really not something to return, the recognition is not something that’s really cost a lot of money, but is a good thing that the charity would give you for your contribution. So we can turn this into a digital recognition. Basically, you have an NFT attached to your donation or your purchase of a charity NFT. So we want to use that as a kind of intrinsic value for the NFT’s, not only for how they look really cute, but now want to collect them. The value is not only in the rarity, but also is something that something more that you can do good to the society. And then you use this NFT as a badge to show on your social media or even just display for allies that I have made the contributions I have, like made contributions to this charity, that charity. And I think that’s the kind of the, the mindset we want to give people to an XNL we really want to just use XNL specifically for some charity actions to tie XNL value with the charity or with the the idea of doing good to the not only the environment, but also this human humanity as a whole.

Michael  37:27

Yeah, I really like that. Thanks for unpacking them more actually listening to your share that actually gives them sheds more light for me on the overall charity component over just say, for example, reading it. So guys, in closing, what does your roadmap for 2022 and beyond look like?

Tim  37:47

Goodness, certainly, it’s a lot, I don’t think we’ve updated that white paper for a little while, we probably should, because the roadmap at the moment, it goes, it’s pages long, in terms of some of the functionality. And I could probably touch upon some of what Jim just mentioned a short while ago that we have actually partnered with circle as our crypto payment integration partner for Chronicle. And that will be going live within a matter of days. So the secondary and everything that’s tied with that will be going live at the same time. So secondary marketplace auctions, user balances, you know that first and foremost is what’s what’s going to be going live. And I think from then on we’re very interested in the XNL integration as well as the gamification of the system. So for instance, yes, you know, if I want to use XNL to make some purchases on collectibles, can I do that? And then you know, what, you know, what incentives are there for me to do that, such as you know, maybe one thing that we’re certainly looking at is a significant discount if you’re purchasing collectibles on chronicle with XNL, as opposed to USD or USD fiat yet. The other thing as well as you know, things like being able to make a purchase in a T collectible, and chronicle my user profile, you know, things like that, we spoke a little bit about the mystery box idea. And then there’s also roadmap development that the brands want as well. So there are brands, for instance, that might want it. So for some of the NFT, purchasing behavior is a little bit gamified. So maybe if I purchase, you know, two NFT’s as an example, I might be able to fuse those NFT’s burned them and create a new collectible from that. And so these are some of the concepts that we’re talking with with a lot of brands as well,

Michael  39:34

Man, I think that’s great. We’ll have to have you back on the show and do a video for the future once you guys roll out some of what he just mentioned. For sure. Is there. Is there anything else you want to share before we conclude here?

Jim  39:48

Yeah, I just want to tell everyone to stay tuned and we have a lot of good stuff coming out with chronicles this year. And looking forward to seeing you guys interact with us.

Michael  40:01

Awesome. Hey guys, it’s a pleasure to have you here. Thanks for coming out here to the show and joining us and you guys are welcome back anytime.

Jim  40:09

Thank you, Michael. Thanks for having us.

Michael  40:12

Absolutely. Hey, if you like today’s episode, definitely like and subscribe to the podcast show your support and chime in here tomorrow for another special episode. Until then make it a great day.

Thanks for tuning in to New to Crypto Podcast. If you liked the episode, be sure to follow and subscribe. You can listen to every episode on all major platforms to have an interest in being on the show or one advertising reach out at newtocrypto.io. Head over to our site newtocrypto.io to access the resources mentioned in each episode. Until next time, remember to navigate the crypto landscape with pinpoint accuracy.

Table of Contents

We have the Chronicle crew in the house! Chronicle is a studio and marketplace digital platform built entirely for fans featuring officially licensed digital collectibles. They launched in 2021, allowing users to buy, sell, trade, bid, and gift authenticated NFTs licensed directly from the world’s leading brands. Jim Jin and Tim Glover, Co-Founders of Chronicle, are here to talk about all things NFT, digital innovation, and exciting partnerships.

Jump into the episode for an exclusive look into the world of Chronicle, the new NFT marketplace.

About The Founders:

Tim Glover, the CEO of NFT marketplace Chronicle. Prior to Chronicle, Tim served as the creator of fan experiences for Jurassic World (2015) and Jurassic World: Fallen Kingdom (2018). Here is a great story of how Tim Glover came into the Jurassic Park movie franchise. 

Jim Jin, the co-founder of NFT marketplace Chronicle. 

Jim is an experienced blockchain investor and an early seed investor in the popular Thorchain network.

What is Chronicle

Chronicle is a leading next-generation digital collectables marketplace where fans can buy, sell, trade, or gift authenticated, officially licensed digital collectables from the world’s best known brand and entertainers in the form of NFTs. Its newly announced auctions and secondary marketplace functions allows fans to sell their NFTs at a price of their choosing.
Although Chronicle is blockchain agnostic, Chronicle utilizes the Aurora EVM (“Ethereum Virtual Machine”) built by NEAR Protocol for their environmental awareness. Unlike high-energy Proof of Work systems, Aurora is based on NEAR Protocol’s Proof of Stake driven technology and is committed to reducing their carbon footprint with a tree-planting offset program.

Chronicle is basically an enclosed ecosystem for brands and fans to connect with this new thing called NFTs… We sought to create something easy to use, and simple, without any sort of crypto know-how

- Tim Glover

Here's What We Discussed in Detail in This Interview

  • [00:01 – 04:17] Opening Segment
    Grow, manage, and store your portfolio with Brave Wallet
    Tim shares his background
    In the crypto space since the 2017 bull run
    Involved in film and entertainment on the digital marketing side
    Jim shares a bit about himself
    Co-Founder of Quantico
    Background in software engineering
    Owner of a crypto investment firm in Singapore
    Started on Chronicle with Tim in 2021
  • [04:18 – 21:56] A Breakdown of Chronicle and Its Ecosystem
    Tim and Jim breaks down what Chronicle is all about
    NFT enclosed ecosystem for brands and fans
    Making it easy for major brands and their fans to get into NFTs
    A creative studio and marketplace
    The meaning behind studio and marketplace
    A gateway for brands to get in on the digital market experience
    Chronicle sits down with the brand and helps them create digital assets
    Letting fans get access to rare art from their favorite brands
    An explanation of Chronicle’s partnership with Discovery and Animal Planet
    Able to get the opportunity because of the eco-friendly blockchain tech
    Proceeds go to a charity animal shelter set up by Ariana Grande
    The different components of Chronicle, how it makes the NFT space easier
    A centralized solution to creating and storing digital assets
    Create a digital collectible in 30 seconds and store it in your profile
    Jim explains a bit about the Chronicle ecosystem
    First, Chronicle has a store of officially licensed NFT
    People purchase on the “primary market”
    The “secondary market” is where users can trade, bid, and gift
    Another layer is the Chronicle studio, NFT as a service
    A quick word about Brave Wallet, ditch the risky extensions and trade crypto in privacy
  • [21:57 – 29:48] A Walk Through the Chronicle Experience
    Tim explains NFT Drops
    Announcing new partnerships and collectibles
    Strategically spreading out the collection over a period of time
    Levels of rarity from common to immortal
    An explanation of NFT Mystery Boxes
    Chronicle’s premium options
    Sales where prices aren’t yet set
    Utilizes a bidding system
    Tim talks about the decision behind using NEAR Protocol
    Avoiding the high gas fee of Ethereum and much faster
    One of the first NFT platforms to use the Aurora Network
    They have a carbon-offset program
  • [29:49 – 37:46] The Tokenomics of Chronicle
    Tim and Jim explain the token XNL
    100 million fixed supply
    Started with a evaluation of $10M
    Sold 35% of the tokens
    Listed on Kucoin and gate.io
    How you can receive rewards for staking XNL
    Yield a passive income depending on the lock up time
    The option to contribute to the liquidity pool
    How Chronicle Metals work
    Recognition for people who contribute to the ecosystem
    The metal is an NFT and can be monetized
    Chronicle’s charity component
    NFTs attached to your charitable donation
  • [37:47 – 41:05] Closing Segment
    A look at Chronicles roadmap for the future
    Secondary marketplace and auctions
    Gamification of the system
    How to engage with Chronicle
    Links below
    Final words

Killer Resources

Chronicle Website

Chronicle Whitepaper

Buy Chronicle NFTs

 

This episode is brought to you by Brave and Brave Wallet are built by a team of privacy focused, performance oriented pioneers of the web. Brave was co-founded by Brendan Eich & Brian Bondy. Brendan Eich is the creator of Javascript, and was a co-founder of Mozilla Firefox. Download the Brave privacy browser at brave.com/newtocrypto

Brave browser Brave wallet logo

HOW TO REACH OUT TO CHRONICLE

Final Thoughts

Chronicle is a fan-run studio and marketplace where NFTs can be showcased. It allows users to purchase, sell, mint, trade, and give certified digital collectibles from leading businesses worldwide. Since it accepts transactions in USD and its crypto version USDT, this fresh new NFT marketplace is open to everyone, including newbies.

Even though there are other NFT marketplaces pursuing similar goals, the majority are based on the Ethereum blockchain, which burns enough energy to power a small nation and leaves a significant carbon imprint.

Chronicle took the strategic decision to build the system on blockchains that use the proof-of-stake (PoS) method, which is more cost-effective, faster, and most crucially, sustainable. Chains that use the PoS consensus have a lower carbon footprint by default.

Chronicle Store

The Chronicle store is where authorized digital collectibles are issued and distributed. All licensed items are organized into collections and marketed in limited-edition sets throughout time (e.g., week, fortnight, month).

All transactions in NFT Drops, NFT Mystery Boxes, and NFT Auctions must be made with USD (fiat or stablecoins) that the person has pre-loaded into their wallet.

NFT Drops

An NFT Drop is a limited-edition collection of minted treasures available on the Chronicle Store until they’re all gone. Various amounts of collectibles will be minted and sold as part of a collection, with varying prices depending on their rarity. 

A collectible’s quantity is limited. Collectibles can be released over a period of time, or they can be released all at once. Once a drop has been activated, people are able to purchase readily.

What are NFT Mystery Boxes

Within the same brand or franchise, a collection with different numbers of various collectibles can be distributed, with the user not exactly knowing what collectible they would receive until after it is purchased.

Users will be able to see ahead of time what collectibles can be gained from a Mystery Box purchase, as well as the amount and rarity of those collectibles, and also how many Mystery Boxes are still available to buy.

NFT Premium Auctions 

Chronicle will release limited-edition digital memorabilia that will be auctioned off. Collectibles sold using the Premium Auction method will have “Immortal” status (i.e., “one of a kind”) as well as other statuses.

Chronicle uses the fundamental auction concept, in which the following settings are set around the auction:

  • Type of auction (e.g., English, Dutch, etc.)
  • The beginning price
  • The minimum standing time for the highest bid
  • Duration of the auction
  • Requisites for participation

Chronicle Marketplace

Chronicle’s collectible marketplace is at the heart of its platform, allowing users to buy, sell, swap, trade, bid, and give licensed digital collectibles from renowned brands.

  1. It is free to list a collectible for selling, exchange, or trade, as well as to give a collectible as a gift.
  2. When a buyer places an order, the seller will be charged a fee on the total price. This charge covers operating expenses (such as blockchain fees) as well as a tiny royalty split between Chronicle and the brand owner.

Payments are made in fiat or stable coins.

XNL token – 100 million fixed supply

Chronicle’s ambitious, forward-thinking projects are fueled by its native ERC20 XNL coin, which will play a significant role in the network’s creation, operation, and administration. It has a total supply of 100,000,000 XNL and can be used in a variety of ways within the ecosystem.

Token holders have first dibs on NFT drops, sales, and auctions, as well as concessions on the Chronicle store. Individuals can stake this token to partake in protocol governance and contribute to the network’s advancement. The site is also working on DeFi initiatives, in which customers can earn yield and interest by investing in XNL.

Big Things Happening For Chronicle

Chronicle has recently announced multiple partnerships with The CW TV Network. It is the company behind famous characters like Paddington, global non-profit Pandas International, leading Hollywood Film Studio Bleeker Street Media, The Discovery Channel, and much more! 

For centuries, readers of all ages have adored Paddington’s heartwarming tales full of mishaps and fun, based on Michael Bond’s book series first published in 1958. Paddington’s innocence and curiosity from his excursions in a human world will be captured in the NFTs, which will be minted as common, uncommon, epic, and everlasting issues.

Pandas International is dedicated to panda conservation, with a primary emphasis on wild pandas and the reintroduction of captive-born pandas into the wild in order to strengthen the gene pool.

They also have Puppy Bowl NFTs currently available (Crypto Puppies) 

 – there is speculation that this is something that they are doing with Animal Planet and Discovery TV.

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