Citizen Finance — A promising technology to earn through gaming

Blockchain and cryptocurrencies provide a convenient infrastructure to enable true ownership of virtual assets in video games. A prototype would replace the usage of in-game currencies with a game cryptocurrency which can be transferred freely and easily between any crypto user regardless of whether they play the game.

What can blockchain do for gaming and the virtual economy?

To truly inhabit cyberspace, consumers must be able to monetize their businesses and make a living in cyberspace. This means that they should be able to easily change their ownership and virtual services offered on Fiat. Blockchain-based games provide an opportunity to expand player-generated content and related services. For example, players can design their own skins and items to sell or use for themselves, or they can perform other player quests to exchange for items and currency.

What is 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.

Rights of in-game asset

Property rights are often classified as human rights that give every citizen the right to own property purchased with his own funds. Ownership can include real estate, cars and in our case, virtual real estate as an in-game asset. Basic property rights are;

● Right of control

● Right of ownership

● Exclusion right

● Right to Income

● Disposal rights

Real ownership through gaming!

As mentioned, blockchain-based games allow players to have permanent ownership and full control over their in-game assets. Typically, each asset is represented by a unique, non-fungible token (NFT), such as the ERC-721 tokens.

The assets may include in-game cards, skins, equipment, and characters. But regardless of the asset type, they can all be linked to blockchain tokens, which are maintained by a distributed network.

About Non-fungible tokens

Non-fungible tokens are token versions of non-replaceable assets such as artwork, real estate, collectibles (in our case, in-game assets). These assets have individual properties and characteristics that make them unique and valuable. Non-fungible tokens can be used to create verifiable digital deficits as well as digital properties.

Play to Earn!

By linking in-game data and items to blockchain tokens, gamers are able to trade assets between different games. This may allow players to recycle their digital assets while experimenting with different games.

Since gaming items are represented using digital tokens, players can trade these tokens on other gaming markets, hosted on the same blockchain.

Impediments of Blockchain gaming technology

Although blockchain technology has opened new horizons for the gaming environment, significant challenges still have to be overcome. Some of them are:

Scalability: Blockchain is much slower than centralized networks, which could prevent the adoption of games on a global scale.

Adoption lost: Even though there are hundreds of blockchain games out there, the demand is still very low. Most games have a very small number of players.

Centralization: Not all blockchain-based games are fully decentralized. Some use ERC-721 or other blockchain tokens but actually run on a central server.

Simplicity: There are a few exceptions, but most blockchain games are too simple to attract players who appreciate high-quality graphics or complex gaming experiences.

Barriers to entry: Raising funds to start and maintain blockchain games can be a challenge. Lack of acceptance and scalability issues can limit a developer’s work.

Competition: Blockchain games are often developed by small, independent groups (independent games). These teams may struggle to compete with the big gambling companies in a centralized world.

It is clear that blockchain technology has great potential in the gaming If developers manage to overcome the major impediments, blockchain will likely change the gaming world for the better, and will probably see a brand new field of entertainment that brings more freedom to players.

industry. It provides significant improvements for gamers and developers, especially in regard to decentralization, transparency, and interoperability.

Website:https://citizenfinance.io/
Discord :https://discord.com/invite/xqNxf63sHx
Twitter:https://twitter.com/citizen_finance
Whitepaper:https://docs.citizenfinance.io/
Telegram group:https://t.me/ccbountyportals
Medium:https://medium.com/@citizen_finance
Reddit:https://www.reddit.com/u/citizenfinance
Linkedin:https://linkedin.com/company/arvrseco

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