Polkacity

Halal Rating :
Comfortable
Last Price $0.007 Last updated:
Rank 1940
1D Change -0.96 %
Market Cap $1.33m
Circulating supply 190,025,935
Maximum supply 432,525,935

Crypto Overview

Categories
  • Collectibles & NFTs
  • Entertainment
  • Ethereum Ecosystem
  • Polkadot
  • Metaverse

Overview

PolkaCity is a virtual reality platform built on the Ethereum blockchain that aims to create a metaverse ecosystem where users can own, trade, and earn from virtual assets like buildings, vehicles, and services. The POLC token serves as the native currency within this virtual economy.

Purpose and Utility

The primary stated purpose of POLC is to facilitate transactions within the PolkaCity metaverse, including: NFT purchases of virtual assets, governance participation, and rewards distribution for asset owners. The platform allows users to generate revenue from their virtual properties through various business models.

Business Model Analysis

The core business model revolves around the creation and trading of virtual assets represented as NFTs. Users can purchase virtual properties, vehicles, and businesses which generate POLC rewards. The underlying activities appear to be focused on asset ownership and value creation rather than gambling or interest-based lending.

Development and Adoption

The project has maintained consistent development activity, with regular updates to their platform and virtual assets. While adoption remains limited, there is evidence of real usage of the platform for its intended virtual economy purposes.

Token Distribution

The token distribution includes allocations for development, marketing, and community initiatives. While detailed vesting schedules are not publicly available, there is no evidence of concerning concentration of tokens among founders.

Crypto Impact

To assign a comfort level investing in Polkacity 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 Polkacity.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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