AFEN Blockchain Network

Purpose and Utility

AFEN was launched as a project aiming to leverage blockchain technology for digital arts, real estate, and education in Africa. The AFEN token was intended to serve as the native currency for transactions within their NFT marketplace and other planned ecosystem components.

Business Model Analysis

The project's stated business model focused on creating a marketplace for African digital art and NFTs, alongside applications in real estate tokenization and educational certificates. These core functions align with halal principles as they involve actual asset exchange and utility.

Development and Adoption

Based on current data, the project appears to have minimal recent development activity. The official website is no longer accessible, and there have been no significant updates to their social media channels or development repositories in recent months.

Token Distribution and Governance

While the initial token distribution included allocations for development, marketing, and team members, current information about token holdings and distribution is limited due to the project's apparent inactivity.

Technology and Revenue Model

The project did not involve interest-bearing mechanisms or explicitly haram activities in its design. The core focus on NFTs and digital asset trading aligns with permissible business activities from an Islamic perspective.