Citizen Finance - The Multi-ecosystem with Support for Gaming, NFT Marketplace and Decentralized Finance

cryptoholical (36)in #citizenfinance • 4 years ago

STARTER INFORMATION

While the global gaming industry continues to grow across all markets, it remains structured in a way that primarily benefits game developers and perpetuates a one-directional flow of value where players spend money to unlock access to in-game assets and gameplay configurations. In contrast, blockchain-built games and decentralized applications (dApps) enable players to capture the utility and value of in-game purchases and asset acquisitions more effectively.

Blockchain technology in gaming is driven by non-fungible tokens (NFTs), digital assets that represent in-game content. These tokens are unique, rare, and indivisible, while the blockchain networks that underpin NFTs facilitate player ownership, provable scarcity, interoperability, and immutability. Together, these advantages have the potential to drive mainstream adoption and a far more equitable value model.

With that being said, Citizen Finance offers full ownership right of in-game assets to gamers using blockchain technology.

Now that I have your attention, let’s get right to it.

What exactly is Citizen Finance?

As depicted earlier and as illustrated in the official website of Citizen Finance, Citizen Finance is an introduction to GameFi and true ownership of in-game assets. While acting as a bridge between the world of traditional gaming and blockchain, Citizen Finance will create a platform where players are the true owners of their in-game assets, they can stake it, resell it, gift it or simply use it as collateral.

Furthermore, in Citizen Finance, Meta City as a First-person shooter game will provide support for 100% ownership of in-game assets. The platform will allow players to withdraw and sell their in-game assets on secondary marketplace, gift it out to friends, stake it on decentralized pool to earn Ciphi token or use it as collateral on lending protocol.

In case you are still hazy on the details, Meta City is a Blockchain First-person shooter game on mobile and PC. The game is centered in a fictional city called Meta City.

Meta City is a portrayed as a rich city with 14 districts. The City is rich with many minerals but the most precious is Ciphi, a metal that fuels the city's technological advancement. Ciphi was discovered by Nikron Ovan the founder of Meta City Company (MCC), a company that controls 70% of Ciphi mining operations in the city.

Why Citizen Finance Chose NFTs?

Just so you know, the specialty of non-fungible tokens revolves round three concept which are unique, rare and Indivisible.

Unique

One major feature that makes NFTs special is the fact of it being unique. Unlike fungible token, each nft has its own unique properties (metadata) that are peculiar to one token. It's impossible for 2 NFTs in same platform to have same properties.

Rarity

NFTs are rare collectibles with limited supply. The scarcity mechanism is one thing that makes owning a non-fungible token special.

Indivisibility

Unlike fungible token, a non-fungible token can not be divided into smaller units. Bitcoin and other fungible assets can be split into smaller unit but non-fungible token needs to be bought, sold and held as a single unit.

The use case of NFTs varies depending on the business model of the platform. While for the most part, it has been used to represent arts and in-game assets but its use case are not limited to arts and gaming alone. NFTs can be used to represent company shares, bonds, real estates, membership and many others. Terra Virtua has been able to successfully implement NFTs on arts, Cryptokitties and GodsUnchained brought NFTs to in-game assets while Decentraland, The Sandbox and Spheroid Universe are giving NFTs a unique use case in the digital real estate industry.

Citizen Finance introduction of NFTs for in-game assets is mainly to promote true ownership of in-game assets and enable players to legally exchange assets between one and another.

In-Game Assets

Every in-game asset in Meta City is a unique non-fungible token. In-game assets are NFTs that are stored on the Binance smart chain which gives players full ownership. Players will be able to use them as in-game assets to play the action-packed game, trade them on secondary market, staked them on NFT reward pools or use them as collateral to borrow other tokens.

Attributes

The most important attributes of in-game assets are it's Stakingpowa, Face Value and Rarity. The StakingPowa is the strength of the asset, Face Value is the amount of token the owner will obtain after liquidation while the Rarity is the rareness of the asset.

Rarity

There are 6 basic Rarity which each in-game assets possess: Common, Rare, Epic, Elite, Legendary and God. Each Rarity possess unique damaging power and value in the game. God weapon is rare, players will have to try harder to obtain them.

Skin as a Virtual Commodity (SaaVC)

Weapon skins will also be represented as a non-fungible token. Since the introduction of weapon skin as virtual commodity to traditional gaming, the market has continue to grow rapidly running into billions of dollars in marketcap. Citizen Finance will also be introducing Skins as a virtual commodity into it's economy model. Players will not just be able to purchase weapon skin from primary market, they will also be able to create own weapon skin and trade using the secondary market.

By introducing blockchain into weapon skin economy, artists will be able to develop their own skin, mint it into NFT and sell directly on Citizen Finance secondary marketplace legally. The platform will be an open economy for weapon skin artist to earn income doing what they know how to do best. Skins will need to be approved by Citizen Finance team and the community through a DCC before it can be supported by Citizen Finance. There will be a number of guidelines in which artists needs to follow when developing weapon skin for the public to avoid harmful content.

Citizen Finance will also be launching CifiPowa, a web-based editor that will enable artist create own weapon skin, mint them to nfts and place on sale on the marketplace.

Treasury Pool Loan

Meta City enables player to borrow funds from the treasury using their in-game assets. Players can borrow funds from Santa Fe Treasury Pool in which they are given a timeframe to pay pack or get their assets liquidated.

Liquidated assets are auction are traded on CifiPowa with the borrowed amount as starting price. Borrowed amount will be refunded back to the treasury while profit made is sent to dividend pool.

About The Ciphi Token

Ciphi is the native token of Citizen Finance platform, the token is minted through NFT staking and Liquidity mining. Users can utilize Ciphi token to purchase nfts from the secondary marketplace, use as fees to launch own skin proposal, deployment fee for Cifipowa , stake Ciphi to earn liquidity reward and also use for lending protocol.

Token Details

Name: CIPHI

Symbol: CIFI

Network: Binance Smart Chain

Decimal: 18

Type: Utility and Governance

Supply: 500,000

Token Distribution

Mining (75.875%): 379,375

Sales IDO (10): 50,000

Liquidity(3.125%): 15,625

Team (10%): 50,000

Airdrop & Bounty (1%): 5000

Liquidity will be locked for 6 months

Team token will be distributed in stages. 10% will be distributed in the beginning while 90% will be locked for 12 months. After lockup period, 5% of Team token will be released monthly.

#citizenfinance, #nft4fps #nft4XR #cifipowa #metacity #gamefi #citizens #cifi #defi #ciphi #bsc #blockchain #ownership

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

For more information, please visit:

Website: https://citizenfinance.io/

Whitepaper: https://docs.citizenfinance.io/

Twitter: https://twitter.com/citizen_finance

Medium: https://medium.com/@citizen_finance

Discord: https://discord.gg/xqNxf63sHx

Reddit: https://www.reddit.com/u/citizenfinance

GitHub: https://github.com/citizenfi