MAGE
Crypto Overview
Purpose and Utility
MAGE is the utility and governance token for the Metaseer Age platform, a blockchain-based metaverse project attempting to combine GameFi and SocialFi elements. The token is designed to be used for governance decisions, purchasing in-game items, and accessing various platform features.
Business Model Analysis
The project's core business model centers around creating a decentralized virtual world where users can interact, play games, and participate in social activities. The platform's stated activities appear to be permissible under Islamic principles as they don't inherently involve prohibited elements like gambling or interest-based transactions.
Development and Adoption
The project is in its early stages, with development ongoing. While adoption remains limited, this is not inherently problematic from a Shariah perspective. The team appears to be actively working on the platform's development, as evidenced by their regular updates and roadmap progression.
Token Distribution
The token distribution includes allocations for development, marketing, team, and community initiatives. While detailed vesting schedules are not publicly available, the distribution structure doesn't show immediate red flags that would suggest a scheme designed primarily to enrich founders.
Technology and Revenue Model
The platform's core technology focuses on creating a virtual world infrastructure, which is permissible from an Islamic perspective. The revenue model is primarily based on virtual asset transactions and platform usage fees, which involve actual value exchange.
Crypto Impact
To assign a comfort level investing in MAGE 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 MAGE.
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.