Pika to Piko
Crypto Overview
Purpose and Utility
PIKA is a meme cryptocurrency launched on the Ethereum blockchain that aims to combine gaming and NFT elements with decentralized finance (DeFi). The project claims to be developing a gaming ecosystem where PIKA tokens can be used for in-game purchases and NFT trading.
Business Model Analysis
The project's stated business model revolves around creating a gaming platform and NFT marketplace. Currently, the token appears to be primarily used for trading rather than its intended gaming utility. While gaming and NFT trading are halal activities in principle, the actual development and implementation of these features appears to be limited.
Real-World Adoption
The token has seen limited adoption for its stated gaming and NFT use cases. Most activity appears to be centered around trading on decentralized exchanges. While this doesn't affect its halal status, it's worth noting the gap between intended and current utility.
Platform Development
Development activity appears minimal based on public GitHub repositories and community updates. The project's social media channels show sporadic updates about planned features.
Token Distribution
The token distribution information is publicly available through blockchain explorers. There don't appear to be any clear signs of excessive founder allocation or concerning vesting schedules that would indicate a scheme to enrich founders.
Revenue Model
The current revenue model appears to be primarily based on trading activity rather than gaming or NFT transactions. This does not affect its halal status as trading digital assets is permissible in Islamic finance.
Crypto Impact
To assign a comfort level investing in Pika to Piko 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 Pika to Piko.
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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