What Is Citizenfinance? (CIFI) Complete Guide Review About Citizenfinance.

What Is Citizenfinance?

Citizenfinance coin is a multi-chain ecosystem powering the next generation NFT-based utilities
in gaming, art and decentralized finance With the aim to accelerate the world’s transition into nfts and immersive technologies, they provides cheap and easy-to-use tools to encourage mass adoption.

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

Citizenfinance Storage Key Points

Key FeaturteMultiple Application Ecosystem

Metalands

A blockchain first person shooter with full ownership of in-game assets.

SANTA FE

Decentralized lending and staking protocol on Binance smart chain

CIFIPO

Citizenfinance WACreate and trade digital art work as collectibles.                       

POWA X

Bring your collectibles to life using extended reality.

Play

Use nfts to play Metalands FPS game

Trade

Exchange your nfts to other cryptocurrency on secondary marketplace

Stake

Stake your unused nfts on decentralized pools to earn CIFI

Collateral

Use your nfts as collateral to borrow funds from lending protocols

The Platform

The Citizenfinance coin video gaming industry is still been plagued with the non existence 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 has been one of the top revenue base of video gaming company as most games has 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 it.

Blockchain Technology

Blockchain technology has enabled some games introduced true ownership of in-game assets but the utilities for this new concept is still small and has no real impact in the industry. Citizen Finance will be introducing new concepts and utilities for in-game assets using blockchain technology.

Asset

Citizenfinance 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.

Weapon Skill

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.

Non-Fungible Tokens

Citizenfinance coin Non-Fungible Tokens are tokenized versions of a non-fungible asset like artwork, real estate, collectibles (in-game assets in our case). These assets possess properties and individual characteristics that make them unique and valuable. Non-fungible tokens can be used to create verifiable digital scarcity, as well as digital ownership.

NFTs 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 NFT race. Cryptopunk was launched in 2017, the first project that aim to tokenize artwork using NFTs.