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| Citizen Finance |
What is Citizen Finance?
World's first blockchain-enabled Role-Playing Game across multiple platforms with support for Non-Fungible Token and Game Finance. While acting as a connector between the world of traditional blockchain and gaming, Citizen Finance will build a platform where all players are the true owners of their in-game assets, they can resell, stake it, gift it or simply use it as collateral.
Property of Citizen Finance can include autos, real estate, and in their case virtual properties like in-game assets. The main property rights are;
- Right of Control
- Right of Possession
- Right of Exclusion
- Right to Derived Income
- Right of Disposition
The technology of blockchain has enabled some games to introduce true ownership of in-game assets but the utilities for this new concept are still no real impact and small on the industry. @Citizen Finance will be knowing new concepts and utilities for in-game assets using blockchain technology.
Introduction of Citizen Finance?
The video gaming industry is still been plagued with the nonexistence of true ownership when it comes to in-game assets. According to NewsZoo The World’s 2.7 Billion Gamers Will Spend $159.3 Billion on Games in 2020; The Market Will Surpass $200 Billion by 2023. This is coming after $87 billion was spent in 2019 by gamers to purchase in-game assets which they have no true ownership over.
In-game assets have been one of the top revenue bases of video gaming companies as most games have adopted the Free-to-Play model with high demands for in-game assets. According to Forbes out of Fortnite’s $2.4 billion of revenue, over one billion was generated through the sale of in-game items. Gamers are spending billions of dollars yearly to purchase in-game assets with little or no real ownership right over them.
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 a secondary marketplace, gift it out to friends, stake it on the decentralized pool to earn a Ciphi token or use it as collateral on the lending protocol.
The Explanation of Non-Fungible Token
Non-Fungible Tokens are tokenized versions of a non-fungible asset like real estate, artwork, collectibles (in-game assets in Citizen Finance case). These assets possess properties and individual characteristics that make them valuable and unique. Non-fungible tokens can be used to create verifiable digital scarcity, as well as digital ownership.
Non-Fungible Tokens are not a new concept and the first NFT-like token was the introduction of Bitcoin 2.x (aka colored coins) in 2012. While not being a new concept, the launch of Cryptokitties - a blockchain-driven platform where players have the chance to collect and breed digital cats, brought the attention of the world to this unique technology and thus began the Non-Fungible Token race. Cryptopunk was released in 2017, the first project that aims to tokenize artwork using Non-Fungible Tokens.
Why are Non-Fungible Tokens Special?
Unique
One major feature that makes Non-Fungible Tokens special is the fact of it being unique. Unlike fungible tokens, each Non-Fungible Token has its own unique properties that are peculiar to one token (Cryptocurrency). It's impossible for 2 NFTs on the same platform to have the same properties.
Rarity
Non-Fungible Tokens are rare collectibles with limited supply. The scarcity structure is one thing that makes owning an NFT special.
Indivisibility
Unlike a fungible token, an NFT can not be divided into smaller units. Bitcoin and other fungible assets may be split into the smaller unit but non-fungible token needs to be bought, held as a single unit and sold.
Citizen Finance links
- Website: https://citizenfinance.io/
- Twitter: https://twitter.com/citizen_finance
- Medium: https://medium.com/@citizen_finance
- Discord: https://discord.com/invite/xqNxf63sHx
- Reddit: https://www.reddit.com/user/citizenfinance
Author links
- bitcointalk.org profile link: https://bitcointalk.org/index.php?action=profile;u=1079155
- bitcointalk.org username: youngcoolzeero
- Twitter link: https://twitter.com/isamessa
- Discord username: youngcoolzeero | Citizen Finance#5987
- Telegram username: @isamessa
- BEP20 - BSC - Bianance Smart chain address: 0x500880aC9994b6501D3B44BbC0114E7B8ea56DC6
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