Dogs of Elon
Crypto Overview
Overview
Dogs of Elon (DOE) is a meme cryptocurrency that launched in 2021, inspired by Elon Musk's tweets about dogs and combining elements of NFTs and gaming. The project aimed to create a community-driven ecosystem with NFT collections featuring dog-themed artwork.
Purpose & Utility
The stated purpose of DOE includes: 1) Acting as a governance token for the Dogs of Elon ecosystem, 2) Providing utility within their NFT marketplace, and 3) Enabling participation in their play-to-earn gaming platform.
Business Model Analysis
The project's core business model revolves around NFT trading and community engagement. The token serves as the primary medium of exchange within their ecosystem. There is no evidence of involvement in prohibited activities like gambling, interest-based lending, or adult content.
Real-World Adoption
Current adoption appears limited, with most activity centered around trading on decentralized exchanges. While the NFT collections launched successfully, the gaming elements remain in development.
Development Activity
The project maintains active social media presence though technical development appears to have slowed since launch. The team continues to engage with the community through regular updates and events.
Token Distribution
Information about exact token distribution is limited, but the project implemented standard liquidity locks at launch. There are no apparent red flags regarding excessive founder allocation or suspicious selling patterns.
Crypto Impact
To assign a comfort level investing in Dogs of Elon 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 Dogs of Elon.
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.