SolPets
Crypto Overview
Project Overview
SolPets is a Solana-based gaming platform and NFT ecosystem where users can collect, trade, and interact with virtual pets. Each pet is represented as a unique NFT on the Solana blockchain. The PETS token serves as the in-game currency and governance token within the SolPets ecosystem.
Intended Utility
The PETS token is designed to enable: 1) Purchasing virtual pets and accessories, 2) Participating in governance decisions regarding platform development, 3) Staking for rewards from platform fees.
Current Implementation and Usage
The project launched in late 2023 and is still in early development. The platform currently allows basic pet NFT minting and trading functionality. The governance and staking mechanisms are not yet implemented. Trading volume is primarily concentrated on decentralized exchanges.
Platform Development
GitHub repository shows regular commits focused on core gaming functionality and NFT infrastructure. The development team maintains an active presence on Discord and regularly publishes technical updates.
Token Distribution
Token distribution: 40% Community and Gameplay Rewards, 25% Development Fund (2-year vesting), 20% Team (3-year vesting), 15% Initial DEX Offering. Smart contract audits confirm these allocations and vesting schedules.
Business Model Analysis
The core business model revolves around NFT trading and virtual pet gameplay mechanics. There are no interest-bearing mechanisms or gambling elements in the current implementation. All transactions involve actual asset transfers (NFTs or PETS tokens).
Crypto Impact
To assign a comfort level investing in SolPets 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 SolPets.
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.