Blockchain technology has allowed some games to introduce real ownership of in-game assets, but the utility for this new concept is small and has no real impact on the industry. Citizen Finance will introduce new concepts and utilities for in-game assets using blockchain technology
What is Virtual Economy?
A virtual economy (or sometimes synthetic economy) is an emergent economy existing in a virtual world, usually exchanging virtual goods in the context of an online game, particularly in massively multiplayer online games (MMOs). People enter these virtual economies for recreation and entertainment rather than necessity, which means that virtual economies lack the aspects of a real economy that are not considered to be "fun" (for instance, avatars in a virtual economy often do not need to buy food in order to survive, and usually do not have any biological needs at all). However, some people do interact with virtual economies for "real" economic benefit.
Citizen Finance – Blockchain gaming finance
Citizen Finance as a GameFi protocol offers players the option to withdraw their unused in-game assets (non-fungible token) and stake on decentralized pools where they can earn Ciphi (CIFI) token. This mechanism will result in frequent withdrawals and deposits in and out of the ecosystem in which users will spend a lot of gas fee. Adopting a blockchain with less gas fee and fast transaction was our primary need when choosing a blockchain.
Citizen Finance is introducing something new into the utilities of in-game assets. We decided to adopt the Binance smart chain network because it is easy to understand, low cost gas fee, fast transaction and also similiar to the Ethereum blockchain.
What is NFT?
NFT stands for non-fungible token. Non-fungible is an economic term that you could use to describe things like your furniture, a song file, or your computer. These things are not interchangeable for other items because they have unique properties. Non-fungible tokens can be used to create verifiable digital scarcity, as well as digital ownership.
Use of NFT (in-game assets)
Citizen Finance NFT has multiple use case on the platform. holders of Citizen Finance NFT can:
● Use it to play Meta City FPS Game
● Stake it
● Resell it on secondary marketplace
● Use it as collateral
● and many more
Citizen Finance: Meta City
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 the secondary marketplace, gift it out to friends, stake it on a decentralized pool to earn Ciphi token or use it as collateral on lending protocol.
Roadmap of Citizen Finance
Q1 2021
❏ Launch of website v1
❏ CifiPowa beta release
❏ Airdrop & Bounty
❏ Release of Meta City Pre-Alpha (PC)
##Q2 2021
Platform
❏ Presale
❏ Early Asset Offering (Kickstarter)
❏ NFT distribution
❏ Listing
Santa Fe
❏ CIFI-BNB LP Pool
❏ CIFI-BUSD LP Pool
❏ Citizen Pool
CifiPowa
❏ Launch of Registry
❏ Marketplace
❏ More development to editor
Meta City
❏ Internal Release of Blockdown District (alpha)
❏ Internal Release of Merchant District (alpha)
❏ Internal Release of Norse District (alpha)
❏ Internal Release of Port District (alpha)
❏ Internal Release of Battlefield (Multiplayer)
❏ Support for NFT as in-game Asset
CifiPowa X
❏ Development of beta-version
❏ Internal Test
❏ Public Release
Q3 2021
CifiPowa
❏ Support Auction-style
❏ Multiple Minting (ERC1155)
❏ More development to CifiPowa
Meta City
❏ Public Release of Blockdown District (alpha)
❏ Public Release of Merchant District (alpha)
❏ Public Release of Norse District (alpha)
❏ Public Release of Battlefield
❏ Reward Pool
❏ Internal Test of SaaVC
##CifiPowa X***
❏ Support NFT (CifiPowa)
❏ Art Exhibition
Citizen Finance is a decentralized gaming platform with support for Essential Tokens (NFT) and gaming funding. This platform provides real ownership of gaming assets and supports next-generation NFT-based gadgets. Players are the real owners of their gaming assets, they can place bets, resell, donate or simply use them as collateral.
Citizen Finance was built around innovations that offer players full ownership of gaming assets using blockchain technology. Citizen Finance's mission is to provide a variety of tools to accelerate the massive adoption of non-refundable tokens in gaming, art and fashion companies.
Blockchain is designed as a decentralized database that functions like a distributed ledger. The advent of Blockchain technology has brought many benefits across many industries, including high security features. However, its decentralized nature also has disadvantages. For example, performance is limited compared to traditional databases due to small storage and capacity issues. In addition, implementation is also one of the main challenges faced by any blockchain project since there has not been a decentralized application launched yet. With all these problems in mind, Citizen Finance was formed to address them.
why NFTS?
The specialty of non-fungible tokens revolves round three (3) concept namely; Unique, Rare & 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 anothers.
Token Information: Name: CIPHI
• Symbol: CIFI
• Network: Binance Smart Chain
• Decimal number: 18
• Type: Utilities and Management
• Scope of delivery: 500,000
True ownership through virtual gaming economy
Digital game items would be represented on a blockchain as non-fungible tokens (NFTs) to imbue the quality of scarcity and enable true ownership of digital assets. With crypto wallets, ownership of items is associated with a user’s wallet address on a decentralized ledger which will presumably be supported by at least thousands of nodes. Therefore, even if game developers take a game down, a player’s in-game currency and items will still remain in his or her possession.
By introducing blockchain into the dermis economy, artists can develop their own skin, convert it into an NFT, and legally sell it on the secondary Citizen Finance market. The platform will be an open economy for gun artists to earn income doing their best. The skin must be approved by the Citizen Finance team and community through DCC before Citizen Finance can support it. There will be a number of guidelines artists must follow when developing skins for public use in order to avoid harmful content.
Where will CiPHi Token use?
CIPHI token may be utilized to shop for NFT withinside the auxiliary advertise, it may be used: as charge for propelling your individual skins withinside the Meta City wear, the CIPHI token may be utilized as charge for the utilize of the CifiPowa representations editor to form and alter picture works of craftsmanship, the CIPHI token may be utilized for having a wagered in decentralized liquidity pools, the CIPHI token may be utilized withinside the loaning convention, CIPHI token may be utilized for in-sport publicizing. In expansion, the Citizen Back wander plans to energize the Meta City shooter gamers through productive them for his or her exuberant support withinside the don. Meta City gamers can be able of change over Meta play cash into CIPHI tokens on the cost of one Meta = 0.01 CIPHI.The Citizen Fund wander team plans to disperse CIPHI tokens as takes after:
88% of the overall deliver of CIPHI tokens will now no longer input the circulating deliver immediately, however gradually, withinside the method of mining,
10% of CIPHI tokens allotted for pre-sale
1% allotted to preserve liquidity, for you to be frozen for six months
10% of CIPHI tokens are allotted for the Citizen Finance venture crew, whilst simplest 10% of this quantity can be obtained through the crew on the very starting of the venture launch,
bounty and airdrop, the crew allotted 1% of the overall issued CIPHI tokens.
CifiPowa is most likely a one-of-a-kind wizard app that can turn computerized prowess into NFT prowess. For the resources made, the stage of decentralized exchange is additionally available, where they can be sold at a set price or at an auction. The created NFTs can be included in your collection called the registry, otherwise you can include your work in the CifiPowa registry. Over time, 3D extensions will be included to advertise weapons in the game In turn, this will allow CifiPowa to support Solidarity and Stunning amusement motors.
Conclusions
Citizen Finance is the world's first cryptocurrency gaming system in which players can not only gamble, but also place bets using cryptocurrency to increase the chances of winning prizes.
For more information (Citizen Finance):
Website: https://citizenfinance.io/
Twitter: https://twitter.com/citizen_finance
Whitepaper: https://docs.citizenfinance.io/
Telegram group: https: //t.me/ccbountyportals
Discord: https://discord.com/invite/xqNxf63sHx
Media: https://medium.com/@citizen_finance
Reddit: https://www.reddit.com/u/citizenfinance
For more information (Citizen Finance):
My Bitcointalk username: Tono Ngucotsek
Profile : https://bitcointalk.org/index.php?action=profile;u=1247512