NOOT (Ordinals)
Crypto Overview
Overview
NOOT is a Bitcoin Ordinal inscription-based meme token launched in 2023. It exists as a collection of inscriptions on the Bitcoin blockchain using the Ordinals protocol, which allows for the creation of unique digital artifacts directly on Bitcoin.
Purpose & Utility
The primary stated purpose of NOOT is to serve as a collectible digital asset on Bitcoin, leveraging the Ordinals protocol. It started as a meme token paying homage to the Linux mascot Tux but has evolved into a community-driven project.
Business Model & Operations
NOOT operates purely as a transferable digital collectible on Bitcoin. The token does not have smart contract functionality or complex financial mechanisms. Its primary utility comes from its transferability and collectible nature.
Development & Adoption
The project maintains active development primarily focused on community engagement and marketplace integration. The token trades on various Ordinals marketplaces where users can buy and sell NOOT inscriptions.
Token Distribution
NOOT tokens were distributed through a fair launch mechanism where users could mint inscriptions. There was no pre-mine or founder allocation, suggesting a fair distribution model.
Crypto Impact
To assign a comfort level investing in NOOT (Ordinals) 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 NOOT (Ordinals).
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.