POLKARARE
Crypto Overview
Purpose and Utility
PolkaRare is designed as a cross-chain NFT marketplace built on Polkadot. The PRARE token serves as the platform's native utility token, used for governance, staking, and marketplace transactions.
Business Model Analysis
The platform aims to facilitate NFT trading and creation across multiple blockchain networks. The business model appears transparent and focuses on legitimate digital asset trading without involvement in prohibited activities.
Real-World Adoption
Current adoption appears limited, with relatively low trading volumes and marketplace activity. However, the project maintains ongoing development efforts and community engagement.
Platform Development
The project shows continued development activity, though at a moderate pace. The team maintains regular updates to their platform and community communications.
Token Distribution and Vesting
Token distribution includes allocations for team members and early investors with standard vesting periods. The distribution structure appears reasonable and aligned with industry standards.
Revenue Model
The platform generates revenue through marketplace fees from NFT transactions, which is permissible under Islamic finance principles as it represents actual value exchange.
Crypto Impact
To assign a comfort level investing in POLKARARE 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 POLKARARE.
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.