Jungle Labz
Crypto Overview
Overview
Jungle Labz (JNGL) is a cryptocurrency project focused on providing a utility token within a decentralized gaming ecosystem. The project's stated purpose is to create a platform for Web3 gaming, with the JNGL token serving as the primary medium of exchange and governance token within their ecosystem.
Purpose and Utility
The intended utility of JNGL includes: governance rights for protocol decisions, in-game currency for their developing gaming ecosystem, and rewards for ecosystem participation. The project is still in early development stages.
Business Model Analysis
The business model appears focused on gaming and entertainment without any clear indication of involvement in prohibited activities like gambling or interest-based lending. The gaming aspects described in their documentation appear to be skill-based rather than chance-based.
Development and Adoption
The project shows active development on their gaming platform, though it is still in early stages. The development team maintains regular communication through their official channels and provides updates on technical progress.
Token Distribution
Token distribution appears to follow standard industry practices with vesting periods for team allocations. There are no immediate red flags regarding token distribution that would indicate a scheme designed purely to enrich founders.
Crypto Impact
To assign a comfort level investing in Jungle Labz 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 Jungle Labz.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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