Somnium Space Cubes
Crypto Overview
Understanding the Intended Utility
Somnium Space Cubes (CUBE) is the native cryptocurrency of Somnium Space, a blockchain-based virtual reality (VR) world. The token serves multiple purposes within the Somnium Space ecosystem: it acts as a governance token, enables users to purchase virtual land and in-world assets, and facilitates transactions within the virtual environment.
Business Model and Current Usage
The platform's business model revolves around creating a decentralized VR metaverse where users can own digital assets, interact with others, and participate in various virtual activities. The CUBE token is essential for the platform's economy, being used for purchasing virtual land parcels, avatars, and other digital assets within Somnium Space.
Real-World Adoption and Platform Activity
The project maintains active development and community engagement, with regular updates to their VR platform. The ecosystem includes NFT marketplaces, virtual land ownership, and social interaction features. The platform has partnerships with various blockchain projects and VR technology providers.
Token Distribution and Governance
CUBE tokens are used for governance decisions within the Somnium Space ecosystem. Token holders can participate in decision-making processes regarding platform development and features. The token distribution includes allocations for development, marketing, and community initiatives.
Technology and Compliance
The platform operates on the Ethereum blockchain, utilizing smart contracts for asset ownership and transactions. The core functionality revolves around virtual reality and digital asset ownership, with no inherent interest-bearing mechanisms or gambling features in its primary use cases.
Crypto Impact
To assign a comfort level investing in Somnium Space Cubes 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 Somnium Space Cubes.
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.