BAREBEARS
Crypto Overview
Project Overview
BAREBEARS is a cryptocurrency token associated with a Web3 platform that includes NFT collections and a metaverse ecosystem. The project aims to create a community-driven virtual world where users can interact, trade, and participate in various digital experiences.
Purpose and Utility
The BAREBEARS token serves as the native currency within their ecosystem, used for: purchasing NFTs, accessing exclusive content and areas in their metaverse, governance voting rights, and community rewards. The token has demonstrated actual utility through active trading on decentralized exchanges and integration with their NFT marketplace.
Business Model Analysis
The project generates revenue through NFT sales, marketplace fees, and virtual land sales. These activities align with Islamic principles as they involve actual asset exchange and value creation. No evidence was found of involvement in prohibited activities like gambling or interest-based lending.
Development and Adoption
The project maintains an active development team with regular updates to their platform and NFT collections. While the ecosystem is still growing, there is legitimate utility and real asset ownership involved in all transactions.
Token Distribution
Token distribution appears reasonable with appropriate vesting periods for team allocations. No concerning patterns in founder token movements have been identified that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in BAREBEARS 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 BAREBEARS.
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.