BuildAI
Crypto Overview
Overview
BuildAI ($BUILD) is a cryptocurrency project launched in 2023 that aims to create a decentralized ecosystem for AI model development and deployment. The platform intends to enable users to create, train, and monetize AI models using blockchain technology.
Purpose and Utility
The stated purpose of BUILD is to serve as both a governance and utility token within the BuildAI ecosystem. Token holders can participate in platform governance decisions and use BUILD to pay for AI model training and deployment services. The token is also used as a reward mechanism for contributors to the platform.
Business Model Evaluation
The core business model revolves around facilitating AI development services in a decentralized manner, which aligns with halal principles as it provides clear utility and involves the exchange of real services. The platform does not engage in any inherently prohibited activities like gambling or interest-based lending.
Development and Adoption
The project is in its early stages, with development primarily focused on building the core infrastructure for AI model deployment. While current usage is limited, this is expected for a new project and does not impact its Sharia compliance assessment.
Token Distribution
Based on available data, the token distribution includes allocations for development (30%), ecosystem growth (25%), team (20%), and public sale (25%). Team tokens are subject to a 2-year vesting period with a 6-month cliff, which demonstrates a commitment to long-term development.
Crypto Impact
To assign a comfort level investing in BuildAI 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 BuildAI.
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.