It appears that the worries of baby boomers are not the same as those of GenZs. There is a huge gap in terms of goals, financial system, and life as a whole. While baby boomers were assured of life after retirement which is already changing, GenZ doesn’t see that as an option.
Things changed more when blockchain technology emerged and has transformed the global economy from finances to how we connect to playing games and more.
While there has been a huge clamouring for a transition to decentralized finance, it is also important to note that the combination of DeFi, from blockchain revolution, and TradFi can help this current generation achieve their dreams in less risky ways.
This is what has brought about the Lifetise platform.
What is Lifetise?
Lifetise is a Web3 finance platform that gives users access to role-playing their lives in the virtual world before implementation in real life. It is done as a game that integrates DeFi and TradFi features making it possible for the simulation to be translated to real-life decisions and steps.
The project which is built on the Polygon Network started as a Web2 platform with a good background winning a lot of awards globally. Lifetise is an alumnus of Accenture’s Prestigious Fintech Innovation Lab. It’s bringing lifestyle, DeFi, and TradFi together to help younger generations plan their lives.
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How Does the Lifetise Metaverse Work
In the Lifetise ecosystem, users are permitted to create a plan for their lives which they can translate into the virtual world of Lifetise. In that virtual world, they get to act on their plans and play their decisions as though they were in the real world.
These decisions can include education, work life, retirement, marriage, vacation, and more. As they are made, the simulation process allows the individual to understand the process involved in making those goals real. Obstacles are encountered as they try to reach their goals in the metaverse.
In the process of doing this, users can learn real-life tactics on how to achieve that goal outside the game world. One advantage the platform brings is that it helps the planning process to be easier, with projections and speculations as well.
While all of these are happening, the users earn in cryptocurrencies for using the platform. And these assets can be converted into fiat and used to finally achieve the goals set by the user.
Tokenomics, Team, and Partners Behind the Lifetise Project
$LIFE token is the primary cryptocurrency of the Lifetise platform. It has a fixed supply and is a non-inflationary utility token with a lot of advantages for the holders.
Holders of $LIFE token can earn by staking the token (by having their tokens used to lower the community and then for P2E mode), receive rewards from DeFi partners of the project, influence decisions made on the development of the project, and more via the LifeDAO.
Nick Wasmuth serves as the CoFounder and COO of Lifetise. He’s known to be a growth & customer acquisition strategist for B2C and B2B, with a focus on data analysis and customer empathy.
Caroline Hughes is another Co-Founder but serves as the CEO of the project. She has an extensive experience as a FinTech founder and tech lawyer.
Stefan Traykovski is the CTO of Lifetise. The Computer Scientist who graduated from Sofia University St. Kliment Ohridski, Bulgaria, also plays the role of Head of FinTech at Sigoor Ag.
Roadmap of Lifetise
Lifetise Homefinder started in the UK around 2018, and from 2019 till 2021 the organization evolved into creating its Whitepaper Version 1. In 2021, it went into partnership with NEAR and TrustPad.
In Q1/Q2 of 2022, the team planned to focus on private placement, release LIFE token IDO, DeFi aggregation, banking integration beta, and upgrade its frontend. Launching of staking rewards, unlocking P2E mode, and DeFi partner reward will be the focus for Q3/Q4 2022.
Launch of multichain facilities, affiliate partnership, multiplayer system and more will come up in 2023.
In Lifetise, anyone can plan their lives and run a virtual simulation to see the impact before going out there to make it happen.
The mission is to create a new system for financial freedom for a new generation using DeFi and TradFi tools.