Faith Tribe
Crypto Overview
Overview
Faith Tribe is a cryptocurrency token launched as part of a digital fashion ecosystem. The project aims to create a collaborative fashion platform where designers, artists and creators can design, customize, mint and distribute digital and physical fashion assets.
Purpose and Utility
The FTRB token serves multiple functions within the Faith Tribe ecosystem: governance rights for platform decisions, rewards for contributors and creators, and payment for services within the platform. The token is primarily used for platform governance and as a medium of exchange for digital fashion assets.
Business Model Analysis
The business model focuses on creating a decentralized platform for fashion design and commerce. The platform enables creators to mint both digital fashion NFTs and facilitate physical fashion item production. This core business model appears to align with Islamic principles as it involves genuine commerce and exchange of assets.
Development and Adoption
The project maintains active development, though adoption remains in early stages. The team regularly updates their community through social media and development reports. The project has established partnerships with various fashion brands and creators, indicating legitimate business development efforts.
Token Distribution
The token distribution includes allocations for team members and early investors with standard vesting periods, indicating reasonable measures to prevent pump-and-dump scenarios. The project maintains transparency regarding token allocations and vesting schedules.
Crypto Impact
To assign a comfort level investing in Faith Tribe 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 Faith Tribe.
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.