iNFTspace
Crypto Overview
Purpose and Utility
iNFTspace (INS) positions itself as a utility token for a blockchain-based NFT platform focusing on digital art trading and NFT creation. The project aims to provide a marketplace for artists and collectors to mint, buy, and sell NFTs.
Business Model Evaluation
The platform's core business model revolves around facilitating NFT transactions, with the INS token serving as the primary medium of exchange within the ecosystem. The platform charges trading fees for NFT transactions, which is permissible from an Islamic finance perspective as it represents a valid exchange of services.
Adoption and Usage
Current on-chain data shows limited adoption, with relatively low trading volumes and user activity. While the platform is operational, actual usage appears to be primarily focused on token trading rather than NFT transactions.
Development Activity
The project shows some development activity, though at a modest pace. The team maintains basic platform functionality but significant ecosystem expansion or major technical improvements are not readily apparent.
Token Distribution
Available information about token distribution shows a relatively concentrated holding pattern, with significant portions held by the project team and early investors. However, this is not uncommon for early-stage projects.
Crypto Impact
To assign a comfort level investing in iNFTspace 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 iNFTspace.
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.