Make revolutionary profits using NFT in Blockchain Technology with Citizen Finance

Citizen Finance is introducing something new into the utilities of in-game assets. It decided to adopt the Binance smart chain network because it is easy to understand, low-cost gas fee, fast transaction, and also similar to the Ethereum blockchain. Besides, Citizen Finance’s 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.

What does Citizen finance Offer?

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) tokens. This mechanism will result in frequent withdrawals and deposits in and out of the ecosystem in which users will spend a lot of gas fees. Adopting a blockchain with fewer gas fees and the fast transaction was our primary need when choosing a blockchain.

Non-Fungible Tokens

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 aims to tokenize artwork using NFTs.

Why is NFTs Special?

The specialty of non-fungible tokens revolves around three (3) concepts namely; Unique, Rare & Indivisible.

Unique: One major feature that makes NFTs special is the fact of it being unique. Unlike fungible tokens, each NFT has its unique properties (metadata) that are peculiar to one token. 2 NFTs in the same platform can’t have the 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 a fungible token, a non-fungible token can not be divided into smaller units. Bitcoin and other fungible assets can be split into the smaller unit but non-fungible token needs to be bought, sold and held as a single unit.

Uses of NFT

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, its use case is not limited to arts and gaming alone. NFTs can be used to represent company shares, bonds, real estate, membership, and many others. Terra Virtua has been able to successfully implement NFTs on arts, Cryptokitties and Gods Unchained 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.

Non Fungible tokens in gaming finance

NFTs can enable gamers to truly own in-game items and transfer their assets from one game to the other. Citizen Finance is the world’s first blockchain-enabled role-playing game across multiple platforms with support for Non-fungible tokens and game finance. Non-Fungible Tokens or NFTs are unique cryptographic tokens that can be used for a variety of transactions, financial and non-financial, and metadata — required for the exchange and distribution of gaming tokens and earn more money than other tokens in this industry.

NFTs and the Future of the Blockchain Gaming Industry

Although the adoption of NFTs in the gaming world presents several benefits, there are also significant hurdles to overcome. Most notably, these assets need to be more appealing and intuitive to mainstream consumers who may not be highly tech-oriented. And because NFTs possess intrinsic value, there’s a risk that some will be used predominantly as speculative assets. This could motivate players to purchase in-game assets with the hope of selling them for future profit instead of using the assets within the gaming ecosystem as intended.

Today’s non-fungible token ecosystem is wide, varied, and constantly growing. Dozens of companies find novel uses for NFTs such as domain names, virtual worlds, decentralized finance (DeFi), art marketplaces, crypto art museums, and NFTs for physical collectibles. And Citizen Finance uses NFT at its best for making profits for investors.

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

Visit to know more :

Web : https://citizenfinance.io
Twitter: https://twitter.com/citizen_finance
Whitepaper: https://docs.citizenfinance.io
Telegram: https://t.me/Officialbountyportals
Medium : https://medium.com/@citizen_finance

Authorship

BitcoinTalk username : alexiarhiya
My Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1607501
ETH (BEP20 — BSC — Bianance Smart chain) address: 0xc61994a51Fe335525b56a8077633da1a4Ffb77F1