Shibaverse
Crypto Overview
Overview
Shibaverse (VERSE) is a metaverse project built on the Ethereum blockchain that aims to create an immersive virtual world centered around the Shiba Inu ecosystem. The project intends to provide virtual spaces, games, and social interactions.
Purpose and Utility
The stated purpose of VERSE is to serve as the native utility token for the Shibaverse metaverse platform. It is meant to be used for purchasing virtual land, in-game assets, and participating in platform governance.
Business Model Analysis
The project's business model focuses on creating a virtual world with gaming and social elements. While the core concept of virtual world ownership and gaming is permissible from an Islamic perspective, the current implementation and actual usage patterns require careful examination.
Development and Adoption
Based on available information, the project appears to be in early development stages. While there is some development activity, the actual implementation of promised features and real-world adoption remains limited. The team maintains regular updates on social media, though technical development milestones are not consistently documented.
Token Distribution
Information about token distribution and vesting schedules is not readily available in detail, which creates some transparency concerns. However, this lack of transparency alone does not make the project haram.
Technology Assessment
The project does not appear to involve any inherently prohibited activities like interest-bearing mechanisms or gambling features in its core functionality. The basic concept of virtual world ownership and trading of digital assets is permissible from a Shariah perspective.
Crypto Impact
To assign a comfort level investing in Shibaverse 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 Shibaverse.
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.