Citizen Finance: A New Concept for In-Game NFT Utilization
It's no doubt that video gaming companies now make a huge part of their revenue from the sales of in-game assets to gamers. Many of these popular games are running on a Free-To-Play model but majority of the in-game assets needs to be literally purchased with real money. This industry is so huge that the companies were estimated to have generated over $150Billion from the sales of in-game assets in the year 2020 alone.
However, this industry has long been troubled with issues associated with lack of true ownership of in-game assets in the sense that gamers spend billions of dollars annualy on in-game assets that they have little or no real ownership rights over them.
Introducing Citizen Finance
In anywhere around the world, one of the most fundamental Human Right is the Right to own any Property that one purchased with their own money, be it real estate, autos or virtual assets such the ones in-game. @Citizen Finance is presenting the world with a GameFi product that will provide true ownership of in-game assets to gamers. With gamers having true ownership of their purchased in-game assets, it means they have the full right to resell them, gift them or simply utilized them as collateral.
For a very long time, the traditional gaming industry have been plaque with the problem of outright denial of property right in respect to ownership of in-game assets, thus limiting the utilities of an assets to a particular game. This has subsequently results to gamers having issues such as;
- Lack of true control over their purchased assets.
- Gamers cannot derive income from their owned assets, and
- Gamers cannot dispose or gift their owned assets.
However, with the growth of popularity in blockchain technology utilization, quite a number of blockchain powered gaming platforms have introduced a way of giving true ownership of in-game assets to gamers but yet the utilities of these assets has so far largely been very limited. @Citizen Finance is utilizing the true power of blockchain technology to introduce a new concept to ownership of in-game assets coupled with a wide variety of utilities.
Get to Know About Meta City
Meta City is @Citizen Finance First-Person shooter game that will support a true full ownership of in-game assets. Gamers that are playing the Meta City will have full ownership of all their purchased in-game assets in the sense that they can sell the assets on a secondary marketplace, gift their assets out to friends and family, use their assets ass a collateral in a lending pool or stake their assets in order to earn Ciphi tokens (the native utility token of the Citizen Finance ecosystem).
Meta City incorporated the blochain's play-to-earn model, where gamers are incentivised with in-game drops of nft's, daily rewards and achievements. Meta City is equipped with a groundbreaking technology called the Bunker System, this technology will make gameplay and game inventory very unique in the sense that every gamer will have their own Bunker (3D inventory) for storage of in-game assets, take missions and interact with other clans among several others. To read much more about Meta City and it in-game assets, please go here
Citizen Finance Ecosystem's Products
Santa Fe: This is a decentralized staking and lending protocol that is built with in-game assets at the core of its design. the protocol is deployed on the BSC network which guarantees lower gas fees and faster transactions. Core features of this product for now includes; liquidity mining, NFT staking and lending.
CiFiPowa: This is a decentralized graphic editing application that empower artists with rich features for creating and minting of digital artwork into nft-based art. CiFiPowa is also equipped with a decentralized marketplace for trading of minted assets.
Citizen Finance Native Token (Ciphi) & Its Tokenomics
Ciphi is the native utility token of the Citizen Finance ecosystem, the token has a maximum supply of 500,000 Ciphi and can only be minted through NFT staking and Liquidity mining. Ciphi token holders can utilize their holdings as a payment method for in-game currency, NFT minting fee on CifiPowa, Auctioning of NFTs, Fees for CifiPowa X, Governance, Publisher's payment for in-game ads.
In Conclusion;
NFT's are truly a big deal and have since proven to the world that there exist a lot of potentials in them. Even with the invention blockchain gaming, gamers suffers from poor in-game asset management, this is going to be different looking at the way in which @Citizen Finance is rolling out it idea of managing in-game assets properly with tons of utilities by utilizing the power of blockchain and NFT technologies. Follow the official links below for much more information, thanks.
Website | Whitepaper | Discord | Medium | Twitter | Reddit
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