LIF3
Crypto Overview
Project Overview
LIF3 is a cryptocurrency project that aims to create a decentralized ecosystem for players to earn rewards through play-to-earn gaming. The project includes NFTs and claims to be building a gaming metaverse.
Purpose and Utility
The stated purpose of LIF3 is to serve as the native token for their gaming ecosystem, allowing users to purchase in-game items, trade NFTs, and participate in governance decisions. Currently, the token appears to be primarily used for trading.
Business Model Analysis
The project's core business model revolves around gaming and NFTs, which are permissible activities from a Shariah perspective as they involve the exchange of digital assets with actual utility. The platform does not appear to involve any inherently prohibited activities such as gambling, interest-based lending, or adult content.
Development and Adoption
As of the most recent available information, the project appears to be in early stages of development. While the gaming ecosystem is still under construction, the token itself functions as intended for trading and speculation purposes.
Token Distribution
Based on available data, the token distribution appears to follow standard industry practices with defined allocations for development, marketing, and community rewards. There are vesting periods in place for team tokens.
Crypto Impact
To assign a comfort level investing in LIF3 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 LIF3.
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.