Binemon
Crypto Overview
Project Overview
Binemon is a blockchain-based gaming platform and NFT marketplace launched in 2021. The project combines elements of NFT collecting, character breeding, and gaming with its native BIN token serving as the in-game currency.
Stated Purpose & Utility
The BIN token is designed to facilitate transactions within the Binemon ecosystem, including: purchasing in-game items and NFTs, breeding characters, marketplace fees, and governance participation.
Current Usage & Adoption
While initially launched with significant marketing efforts, current on-chain data and community activity suggests relatively limited active usage. The game remains operational but with a small user base. Development activity appears to have slowed significantly since 2022.
Business Model Analysis
The core business model revolves around gaming and NFT trading, which are permissible activities from a Shariah perspective as they involve actual asset ownership and transfer. The platform does not incorporate interest-bearing mechanisms or gambling elements in its core functionality.
Token Distribution & Governance
Initial token distribution allocated significant portions to the team and early investors, with vesting periods implemented. Community governance features were planned but have seen limited implementation.
Development Activity
Current development activity is minimal based on public GitHub repositories and platform updates. While the basic gaming infrastructure exists, new feature development has been sparse in recent months.
Revenue Model
Revenue is generated through marketplace fees, NFT transactions, and in-game purchases - all of which involve legitimate exchange of digital assets and services.
Crypto Impact
To assign a comfort level investing in Binemon 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 Binemon.
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.