NFTBooks
Crypto Overview
Project Overview
NFTBooks (NFTBS) is a project aiming to create a decentralized platform for digital book distribution and reading, utilizing NFT technology to manage digital rights and compensate authors. The platform intends to allow authors to publish and sell their works while readers can purchase, own, and trade digital books.
Utility Assessment
The NFTBS token is designed to serve multiple functions within the ecosystem: governance rights for platform decisions, payment for book purchases, and rewards for platform participation. The project maintains active development with regular updates to their platform.
Business Model Analysis
The business model revolves around facilitating legitimate trade of digital books and intellectual property rights, which aligns with Islamic principles of fair trade and respect for property rights. The platform does not involve interest-bearing mechanisms or gambling elements.
Current Usage and Development
While the project shows ongoing development activity, current adoption remains in early stages. The team maintains regular communication through social media and development updates.
Token Distribution
The token distribution includes allocations for development, marketing, and community rewards. There are vesting schedules in place for team tokens, indicating commitment to long-term development.
Crypto Impact
To assign a comfort level investing in NFTBooks 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 NFTBooks.
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.