biis (Ordinals)
Crypto Overview
Overview
BIIS (Ordinals) is a Bitcoin NFT project that implements smart contracts on Bitcoin through Ordinal Theory. The project aims to create unique digital assets on the Bitcoin blockchain.
Purpose and Utility
The primary purpose of BIIS is to serve as a digital asset platform utilizing Bitcoin's blockchain for NFT creation and trading. The project enables users to inscribe and trade digital content directly on Bitcoin's blockchain using Ordinal Theory.
Business Model Analysis
The business model appears focused on facilitating the creation and exchange of digital assets on Bitcoin's blockchain. The core operations involve legitimate asset transfers and don't inherently involve any prohibited activities like gambling or riba.
Development and Adoption
The project is built on Bitcoin's blockchain and utilizes Ordinal Theory for asset inscription. While relatively new, it demonstrates actual utility through its NFT functionality.
Token Distribution and Governance
Limited public information is available about the exact token distribution model. However, the core functionality of creating and trading digital assets remains intact regardless of token distribution patterns.
Crypto Impact
To assign a comfort level investing in biis (Ordinals) 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 biis (Ordinals).
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