Here is all sorts of information about the Krono:

We are excited to announce a new in-game item coming to EverQuest, EverQuest II, and Vanguard: Saga of Heroes – KRONO! Here are some questions and answers to get you familiar with this new object.

Q. What are Krono?

A. Krono are in-game objects that can be redeemed for 30 days of membership time in the following SOE games:  EverQuest, EverQuest II, and Vanguard: Saga of Heroes. They are sold in the marketplace for real money only, or they may be purchased from other players via the broker or private trade for in-game currency.  Players may not, however, sell Krono to each other for real world money.

Q. What can you do with them?

A. You can buy them from SOE using real money, buy them from other players using in-game currency, gift them, sell them to other players for in-game currency, trade them to other players for other in-game items, and consume them. If you consume a Krono, it is removed from your inventory and 30 days of game membership time is added to the account associated with the character that consumed it.

(More after the jump...)

Q. How can I acquire them?

A. You can buy a new Krono from SOE for US $17.99 or less. Players can also gift Krono to other players, trade them, and sell them for in-game currency.

Q. Wait, does that mean I'm getting a membership for free?

A.  It depends.  All Krono are initially purchased from SOE using real world money.  After a Krono is purchased, it may be freely gifted, traded, or sold for in-game currency to other players.  If another player gifts a Krono to you, then yes, you are effectively getting an item for free that can be redeemed for 30 days of game membership time.  However, somebody previously paid real world money for that Krono.

Q: Why would I buy a Krono?

A: There are many reasons to buy Krono.  For example, if you're a veteran player with a lot of in-game currency, but not a lot to spend it on, you can use that extra currency to buy Krono from other players and turn it into game membership time. Alternatively, if you're a player without much in-game currency and can't buy things on the broker because prices are too high, you can consider buying Krono and selling them to other players to build up your in-game currency.  You can also treat Krono as in-game commodities, and build up your in-game currency by buying and selling them on the broker for a profit.

Q. Does this replace any existing payment methods?

A. No. Krono are not a payment method.  They are in-game items that can be purchased from SOE for US $.  The introduction of Krono into the games will not replace any existing methods for buying game membership time. 

Q. Can I trade them between characters?

A. Yes, they may be transferred and traded between characters using the trading window, shared bank slots, and in-game mail.

Q. How can I sell them for in-game currency?

A. Depending on which game you are playing, you can trade them in person to another player, post them for sale on the broker, advertise them in chat channels, sell them in the bazaar, etc.  Please note, however, that players may not sell Krono for real world money.

Q. Do they expire?

A. No, Krono do not expire.

Q. Is this a permanent part of the game?

A. Not yet.  Initially, we will release Krono as a trial program. We will watch to see how they are embraced and used. If the trial is successful, we will continue the program and roll them out to new games.

Q. Are Krono transferable between games?

A. No. Once a Krono has entered a game, it is now a part of that game and cannot be moved to a different game. However, prior to claiming a Krono in a participating game you can choose which game to apply your Krono.

Q. Are they refundable?

A. No.

Q. Do Krono work for game memberships as well as All Access memberships?

A. Yes. When a Krono is consumed, it will add 30 days of game membership time to the account associated with the character that consumed it.  If that account has an existing All Access membership, the All Access membership will be extended by 30 days.  If the account has a regular game membership, that membership will be extended by 30 days.  If the account has no current membership, then 30 days of regular game membership time will be added to the account.   

Q. How exactly does the Krono work?

A. You consume the Krono much like you would drink a potion.

Q. Is there a limit to how many Krono I can purchase each day?

A. You can purchase up to 25 Krono per day – either all at once or in separate transactions.