AFEN Blockchain Network
Crypto Overview
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.
Crypto Impact
To assign a comfort level investing in AFEN Blockchain Network from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to AFEN Blockchain Network.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.