Metaverse ETP
Crypto Overview
Project Overview
Metaverse ETP (now known as Hyperverse) is a blockchain platform designed to provide digital identity, oracle services, and smart contract functionality. The project was founded in 2016 and aimed to create an infrastructure for digital assets and digital identities.
Intended Purpose & Utility
The ETP token serves as the native currency of the Hyperverse ecosystem, used for: Transaction fees, Staking to secure the network, Platform governance, Digital identity registration.
Development & Adoption
The project has faced significant challenges and controversy. Development activity has been minimal in recent years, with the last major update occurring in 2021. The platform's rebranding to Hyperverse and subsequent developments have been met with skepticism from the cryptocurrency community.
Business Model Analysis
While the core technology and intended use cases align with halal principles, there are concerns about the project's current state and transparency. The shift in focus and lack of clear communication about development progress raise questions about the project's direction.
Token Distribution
Initial token distribution included: 25% to the founding team, 30% for mining rewards, 20% for early investors, 25% for ecosystem development. The vesting schedules and current token distribution are not clearly documented in recent materials.
Crypto Impact
To assign a comfort level investing in Metaverse ETP 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 Metaverse ETP.
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.