MicroPets
Crypto Overview
Overview
MicroPets is a cryptocurrency project on the Binance Smart Chain that combines NFTs with a play-to-earn gaming ecosystem. The project allows users to collect, trade, and stake NFT pets while earning PETS tokens.
Purpose and Utility
The primary stated purposes of the PETS token are: 1) Serving as the in-game currency for the MicroPets ecosystem, 2) Enabling NFT minting and trading, 3) Providing staking rewards for token holders.
Business Model Analysis
The core business model revolves around NFT trading and gaming. Users can purchase, trade, and stake NFT pets while participating in the game ecosystem. The project generates revenue through NFT sales, marketplace fees, and game-related transactions.
Development and Adoption
The project has shown limited recent development activity. The last significant update to their platform occurred several months ago. While the project maintains social media presence, engagement metrics have declined substantially since launch.
Token Distribution
According to available data, the token distribution appears relatively concentrated, with significant holdings by the development team. There are vesting schedules in place for team tokens.
Revenue Model
The revenue model is primarily based on NFT sales and marketplace fees, which are permissible activities from an Islamic finance perspective as they involve actual asset exchange.
Crypto Impact
To assign a comfort level investing in MicroPets 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 MicroPets.
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.
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