ShopNEXT
Crypto Overview
Overview
ShopNEXT is a Web3 loyalty and shopping rewards platform that rewards users with NEXT tokens for their shopping activities. The platform aims to connect traditional retail with blockchain technology by offering cashback in cryptocurrency.
Purpose and Utility
The NEXT token serves as the primary reward and governance token within the ShopNEXT ecosystem. Users earn NEXT tokens for shopping at partner merchants, both online and offline. The token can be used for cashback rewards, governance participation, and access to premium features within the platform.
Business Model Evaluation
The core business model revolves around legitimate retail activities and shopping rewards, which aligns with halal principles. There is no evidence of involvement in prohibited activities like gambling, interest-based lending, or adult content. The platform operates with transparency through smart contracts on the BNB Chain.
Real-World Adoption
ShopNEXT has established partnerships with various retailers and e-commerce platforms, particularly in Southeast Asia. The platform has shown steady user growth and transaction volume, indicating genuine utility and adoption. The project has integrated with popular payment methods and point-of-sale systems to facilitate real-world usage.
Platform Development
The development team maintains regular updates to the platform, with an active GitHub repository and consistent improvements to the mobile application. The project demonstrates ongoing technical development rather than purely focusing on token price appreciation.
Token Distribution and Governance
The token distribution includes allocations for rewards, development, marketing, and team members. While there is a significant portion allocated to the team and early investors, these tokens are subject to vesting periods, reducing the risk of sudden dumps. The governance mechanism allows token holders to participate in decision-making regarding platform development and rewards distribution.
Crypto Impact
To assign a comfort level investing in ShopNEXT 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 ShopNEXT.
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.