News Updates — Roadmaps, Buyback and Business Model
BTC correction, China’s crackdown on cryptocurrency and other activities affected the blockchain industry which also had a negative impact on Citizen Finance after launching on May 22nd. Nevertheless, our development and products are being put together for a comeback as our ability to scale is still intact.
We will be using this article to inform our community regarding our current development, updated roadmaps and our business model.
With the launch of CifiPowa, Citizen Finance team will continue development of the platform. CifiPowa can be considered incomplete without Powa X as we are not building another NFT marketplace where user create and trade NFTs but mainly for curating exhibitions with their NFT artwork. While CifiPowa enables creating on NFT-based artwork, Powa X as a child application enables art exhibition and interaction.
We are glad to inform the community that we are few days away from beta release of Powa X on android operating system. The application which is built like a social media network where nftartists are the content creators and nftart are the contents enables users to;
- Comment/Like items
- Interact with items
- Make videos/photos with the items
- Follow and be Followed
- Activity fields
- Earn Credits
- Spend Credits
- and many more
While CifiPowa and Powa X development has been going smoothly and steady, Metalands is not left out. We are still committed in releasing alpha version of Metalands with an action-packed multiplayer gameplay in third quarter of 2021.
Q3 2021 Roadmap
Second quarter saw the birth of Citizen Finance, successful IDO with SuperLauncher, launch of LP staking, CifiPowa marketplace and beta version of Powa X. We are glad we were able to achieve more in development side and will continue what we have been working on.
Third quarter which will be filled with lots of development, marketing, partnerships, events, interactions and public awareness. It can be considered as the “true birth of Citizen Finance”. Below are what we hope to achieve in Q3 2021 in our updated roadmap.
- NFT marketplace (Support for ERC1155)
- NFT staking with Santa Fe
- Polygon (Formerly Matic) Integration
- iART2021 with Powa X
- Events on Powa X
- Immersive advertisement
- Creator's Incentives
- Alpha version of Metalands (Multiplayer)
- Metalands Marketplace
- Weapon Skin Crafting/Trading
- Internal test of Tokenized Arts
Our aim to provide next generation nft utilities will commence fully in Q3 2021 where users will be able to interact with Metalands, CifiPowa, Powa X and Santa Fe.
Buyback and Burn Updates
Citizen Finance original was to use 20% of profit from Metalands primary store to buyback and burn CIFI. This plan was to remove 10% of maximum supply of CIFI token permanently from the market.
With not more than 500,000 maximum supply of CIFI which is meant to exist in all chains, we have decided to convert the burning mechanism to a dividend system. While 20% of monthly revenue from Metalands primary store will be used to purchase CIFI from the marketplace, the purchased token will be used to incentivize holders in a dividend mining system. 50% from total token purchased will be used for dividend mining while the other 50% will be used for Creator’s incentivizes.
As a platform with multiple applications, Citizen Finance has different business model according to the application.
Artist trade their NFTs on the platform using supported currency
CifiPowa is an immersive NFT marketplace that enables users to create and trade NFT artwork as digital collectibles. The main objective of CifiPowa is to enable immersive art exhibition and interaction using immersive technologies. The platform targets traditional/digital artists, collectors, museums, art galleries and the general art communities. As a marketplace, users are able to purchase NFT and also trade their NFTs.
In order to incentivize buyers and sellers, the platform reward buyers with 1% of the amount of the item while sellers gets 1% of transaction fee (only if CIFI is used).
CifiPowa as the gateway to Powa X provide tools for users to create their own gallery and events. Cifipowa charges 10% worth of credits from total credits accumulated during the events.
Curate and monetized nft-based art exhibition
Designed like a social media, Powa X is based on Premium and sponsorship business model. The main object of Powa X is to offer interactive solution to nft-based artwork for collectors and artist. Artist will be able to curate indoor and location-based advertisement using augmented reality with monetization option.
Credits — an in-app currency will be the main currency for payment of events ticket. Credit can be purchased using fiat currency on the application and also CIFI token on the website. Users can also obtain credits through gamification by hunting treasure chess around their environment and interacting with ads.
A free to play FPS game with in-game assets purchase.
Citizen Finance has decided to make Metalands a free to play FPS game on mobile and PC. While users will be able to purchase in-game assets on primary marketplace, they will also be able to trade their in-game assets as NFTs on Metalands secondary decentralized marketplace. The game is built to incentivize players with achievements, in-game currency, in-game drops, redeemable currency and many more exciting stuff to socialized and monetize game play. A free to play and play to earn ,mechanism is what Metalands is all about.
Relationship with Our Citizens
Community is an important part of every blockchain based project, one that requires more attention from team. Yes, we have been building the platform internally, we have not really been well with community interaction and engagement.
Q3 will witness a lot of new development not only in project side but also in community development. The team will be more active with internal AMAs, Discord Stage Events, Development podcast, Competitions and many more events to incentivize and make community more active with us.
Expanding Our Reach
In order to expand our reach, Citizen Finance will be entering into healthy partnerships with projects which will be helpful with our growth. To our community members, Citizen Finance will welcome any suggestions to any project you see fit to help us grow.
About Citizen Finance
Citizen Finance is a multi-chain ecosystem powering the next generation of nft-based utilities. The platform consist of an open world first person shooter game, a decentralized staking and lending protocol and an immersive nft marketplace with mobile application.
About Meta Lands
Meta Lands is an open world FPS game with Blockchain and NFT elements. The game takes place in an era where warrior extra-terrestrials have invaded earth in search of a precious metal called CIFI. Equipped with story and multiplayer game modes, players take on the role of Harry Lam, a military contractor sent to occupied districts of MetaLands overran by aliens, to obtain information about them and free the Citizens of MetaLands.
CifiPowa is an immersive marketplace that enables trading of digital collectibles and curation of art exhibition using nft-based art. It enables artist to mint digital art work into NFT-based art with support single art or multiple collection called Gallery.
About Powa X
Powa X is a child application built to offer immersive and social media features to users. The application which runs on android and iOS enables immersive exhibition and interactions with nft-arts.