Arena Token
Crypto Overview
Overview
Arena Token (ARENA) is the utility token of Play Royal, a Web3 gaming ecosystem that aims to combine traditional gaming with blockchain technology. The token serves as the primary currency within the Play Royal ecosystem.
Purpose and Utility
The intended purpose of ARENA is to facilitate transactions within the Play Royal gaming ecosystem, including game purchases, in-game items, and participation in tournaments. The token also provides governance rights to holders, allowing them to vote on platform developments.
Business Model Analysis
The platform's business model revolves around gaming and esports, which are permissible activities under Islamic principles as they involve skill-based competition rather than chance-based gambling. The ecosystem appears to focus on legitimate gaming activities rather than gambling or other prohibited activities.
Current Usage and Adoption
The token shows limited but growing adoption within its intended ecosystem. On-chain data indicates active trading and increasing integration with gaming platforms, though the project is still in relatively early stages of development.
Development Activity
The development team maintains regular updates to the platform and ecosystem. GitHub repositories show consistent activity, indicating ongoing technical development rather than purely marketing-focused efforts.
Token Distribution
Token distribution appears reasonably balanced, with appropriate vesting periods for team members and early investors. There are no immediate red flags regarding token concentration or suspicious distribution patterns.
Crypto Impact
To assign a comfort level investing in Arena Token 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 Arena Token.
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.