Metaverse Face
Crypto Overview
Overview
Metaverse Face (MEFA) is a cryptocurrency project that claims to be focused on creating virtual avatars and digital identities for metaverse applications. The project aims to provide users with customizable 3D face avatars that can be used across different metaverse platforms.
Purpose and Utility
The stated purpose of MEFA is to serve as the native token for the Metaverse Face ecosystem, where it would be used to purchase avatar customizations, digital assets, and access to various metaverse features. However, current on-chain data and public information about actual implementation and usage is extremely limited.
Business Model Assessment
The business model involves digital asset ownership and trading, which is permissible from an Islamic perspective as it involves actual ownership transfer of digital assets. The project does not appear to involve any inherently haram activities like gambling, interest-based lending, or adult content.
Development and Adoption
Available information about development activity and real-world adoption is extremely sparse. While the project has a website and social media presence, verifiable information about technical development progress or partnerships is minimal.
Token Distribution and Governance
Detailed information about token distribution, vesting schedules, and governance mechanisms is not readily available in public sources. This lack of transparency, while concerning from an investment perspective, does not automatically make the project haram.
Crypto Impact
To assign a comfort level investing in Metaverse Face 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 Face.
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.