Cosmic Universe Magick
Crypto Overview
Project Overview
Cosmic Universe Magick (MAGICK) is a utility token used within the Cosmic Universe NFT gaming ecosystem built on the Harmony blockchain. The token serves as the primary in-game currency and governance token for the fantasy-themed metaverse game.
Stated Purpose & Utility
MAGICK is designed to facilitate in-game transactions, reward players for participation, and provide governance rights over the game's development. Token holders can use MAGICK to purchase in-game assets, participate in governance decisions, and stake tokens for rewards.
Business Model Analysis
The project's business model centers around gaming and digital asset ownership, which are permissible activities from an Islamic perspective. The ecosystem does not involve interest-bearing mechanisms, gambling, or other prohibited activities in its core functionality.
Actual Usage & Adoption
The token is actively used within the Cosmic Universe game ecosystem, primarily for in-game purchases and governance. While trading activity exists on decentralized exchanges, this represents legitimate asset exchange rather than gambling.
Development Activity
The project maintains active development with regular updates to the gaming platform and ecosystem. The team consistently releases new features and improvements to the gaming experience.
Token Distribution & Governance
The token distribution includes allocations for development, community rewards, and ecosystem growth. While specific vesting details are not publicly available, the project demonstrates a focus on long-term ecosystem development rather than short-term profit-taking.
Crypto Impact
To assign a comfort level investing in Cosmic Universe Magick 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 Cosmic Universe Magick.
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.