Xoocity is a Web3 commercial metaverse project designed as a virtual community for global cultural, artistic, and business exchange. The project's first implementation is a digital replica of Hong Kong. ^[1] Xoocity integrates blockchain technology, artificial intelligence (AI), and a proprietary economic framework called "CitiFi" (City Finance) to build its virtual environment. ^[2] The platform's ecosystem includes virtual land represented as non-fungible tokens (NFTs), a native utility token named XOO TOKEN ($XOO), and various integrated applications intended to create a self-contained digital economy. ^{[1] [3]}

Overview

Xoocity positions itself as a "CitiFi Hong Kong metaverse community" with the stated goal of facilitating global commerce and cultural interaction within an immersive virtual world. The project's core is a digital recreation of Hong Kong, where users can own virtual land, construct buildings, engage in social activities, and conduct business. The platform aims to attract a diverse user base, including entrepreneurs, brands, investors, educators, and gamers, by providing tools for creating virtual stores, offices, educational courses, and entertainment venues. ^[1]​

The economic structure of Xoocity is built upon its proprietary "CitiFi" model. This model is designed to support a "closed-loop digital economy" by tokenizing brand equity and real-world assets (RWA) through its XooRWA platform and enabling cross-border e-commerce within the metaverse via its Xoobay application. The entire ecosystem is powered by the XOO TOKEN, which serves as the primary medium for transactions, rewards, and governance. The project's technical foundation leverages blockchain and AI to manage assets and user interactions. ^[1]​

History

The inception of the Xoocity project is estimated to be around 2022, a date inferred from the copyright notice on its official website. ^[1] In 2023, the project was named a recipient of an award from the Mediazone Innovation & Entrepreneurship Awards (MIEA), an event organized by biz-innovator.com. ^[1]​

Xoocity established its official social media presence on the X (formerly Twitter) platform in August 2024. ^[2] At an unspecified date, the project's website announced the "grand launch of XOO token on LaunchPad," though further details regarding the specific platform or date were not provided in the announcement. ^[1]​

Ecosystem and Technology

The Xoocity ecosystem comprises several interconnected platforms and technologies designed to create a comprehensive metaverse experience. The project uses the term "CitiFi" to describe its overarching economic and financial framework. ^[2]​

The Xoocity Metaverse

The core of the project is the Xoocity Metaverse, a virtual world where users interact through avatars. This digital environment is designed to host a wide array of virtual scenes and activities. Planned or existing environments include business centers, marketplaces, exhibition halls, hotels, schools, and virtual versions of tourist attractions. Users can own land, build custom structures, play games, and socialize within this space. ^[1]​

CitiFi Model

CitiFi, or "City Finance," is Xoocity's proprietary model for integrating financial activities into its metaverse. This framework aims to bridge digital and real-world economies through two main components:

• XooRWA: A platform focused on the tokenization of real-world assets (RWA) and brand equity. This is intended to allow businesses and individuals to represent physical assets or brand value as tradable digital tokens on the blockchain.
• Xoobay: A platform designed to facilitate immersive cross-border commerce. It functions as a marketplace within the metaverse, allowing brands and users to buy and sell goods and services in a virtual setting.

The CitiFi model's objective is to create a functional digital economy where value can be created, exchanged, and transferred between the virtual world and the real world. ^[1]​

Key Components

The Xoocity ecosystem is supported by a range of proprietary products and platforms.

XOO Token ($XOO)

The XOO TOKEN is the native cryptocurrency of the Xoocity ecosystem. It functions as a utility token and is central to all economic activities on the platform. Its primary use cases include:

• Purchases: Used to buy virtual land, assets, and other in-game items.
• Rewards: Distributed to users for participating in activities, completing tasks, and staking assets.
• Staking: Users can stake XOO tokens or related assets like Land NFTs to earn yield.
• Transactions: Serves as the medium of exchange for all commerce conducted on platforms like Xoobay. ^[1]

XOO Wallet

Xoocity provides a proprietary cryptocurrency wallet, the XOO Wallet, for managing all platform-related digital assets, including XOO tokens and Land NFTs. The wallet is available as a web-based application (H5) and as a mobile app on the Apple App Store and Google Play, providing users with a multi-platform tool for asset management. ^[1]​

Other Ecosystem Elements

The project's official materials also list several other components of the ecosystem, though their specific functions are not detailed in the available documentation:

• Yochain: Listed as a component of the ecosystem, but its role, whether as a proprietary blockchain or an integrated service, is not specified.
• XOONATION
• XOOMONEY
• XOODAO: The "DAO" acronym suggests this component may be related to a decentralized autonomous organization for community governance.
• XOOER

These components are presented as integral parts of the broader Xoocity framework. ^[1]​

Products and Features

Virtual Land NFTs

Virtual land in Xoocity is a core asset, represented as non-fungible tokens (NFTs) on the blockchain. Ownership of a Land NFT grants the holder a bundle of rights within the metaverse.

Landowner Rights

According to the project's documentation, landowners possess the following rights:

• Ownership: Permanent and verifiable ownership of the virtual land parcel.
• Development: The right to build and customize structures on the land.
• Profit-making: The ability to monetize the land through commercial or entertainment activities.
• Management: The right to manage and operate experiences on the land.
• Social Rights: The ability to host events and build communities. ^[1]

Use Cases and Attributes

Landowners can use their parcels for a variety of purposes, including creating virtual offices for remote work, establishing flagship stores for brands, hosting art exhibitions, developing interactive games, or building private recreational spaces. Land NFTs have specific attributes that determine their value and development potential. For example, a "Bronze" grade land parcel located in the "Eastern" district of the virtual Hong Kong is listed with an area of 100 ㎡, a maximum building height of 5 floors, and a price of 3,000 USDT. ^{[1] [3]}

Land Node Plan

The Land Node Plan is a program offered by Xoocity for users to acquire Land NFTs and earn rewards through a staking mechanism. The plan is structured with a total supply of 60,000 "nodes" scheduled for sale. These nodes are released in batches of 2,000, with the price stated to increase by a minimum of $100 USD with each subsequent batch. ^[1]​

Acquisition and Staking

The initial offering of the Land Node Plan involves the following steps:

1. Acquisition: A user pays 1,000 USDT to acquire a "node."
2. Land Grant: Upon purchase, the user is granted a Bronze Land NFT, which the project lists with a value of 3,000 USDT.
3. Staking and Yield: The user must then stake the acquired Land NFT for a fixed period of 800 days. During this period, the staking activity generates a yield of 100 XOO TOKEN per day.

This structure results in a total yield of 80,000 XOO TOKEN over the 800-day staking term for each node. ^{[1] [4]}

Referral Program

The Land Node Plan includes a two-tiered referral program to incentivize user growth.

• Direct Referral Bonus: A referrer receives a commission of 10% of the USDT purchase amount from any user they directly refer to the plan.
• Reward Sharing: The referrer also earns 10% of the XOO TOKEN rewards generated by the referred user's staked node. This is specified as earning 10 XOO TOKEN per day for each referred node that is actively staking. ^[1]

User Engagement

Xoocity has implemented features to encourage user participation. New users are presented with "Novice Tasks," which are simple introductory activities. Upon completion, users receive a one-time reward of 100 XOO TOKEN. The platform markets its features to different user profiles, outlining potential benefits for entrepreneurs, investors, educators, gamers, and digital asset collectors. ^[1]​

Institutional Support and Partnerships

Xoocity's website lists several organizations under "Institutional Support" and "Strategic Partners." The precise nature and extent of these relationships are not detailed in the source materials. ^[1]​

Institutional Support

• HK Tech 300: A startup entrepreneurship program established by the City University of Hong Kong.
• Hong Kong Science and Technology Parks Corporation (HKSTP): A statutory body in Hong Kong tasked with supporting the region's technology and innovation ecosystem.
• MIEA 2023: An award from the Mediazone Innovation & Entrepreneurship Awards. ^[1]