Starlink
Crypto Overview
Overview
Starlink (STARL) is a metaverse project launched in 2021, aiming to create a virtual space exploration and colonization platform. The project includes NFT-based virtual real estate, space stations, and spaceships within its ecosystem.
Intended Utility
The STARL token is designed to serve as the native currency within the Starlink metaverse, enabling users to purchase virtual assets, participate in governance, and engage in the platform's virtual economy. The token is built on the Ethereum blockchain as an ERC-20 token.
Actual Utility and Development
The project has shown limited development activity since its launch. While the initial vision included a comprehensive metaverse platform, the current implementation primarily serves as a tradable token with minimal practical utility. The promised metaverse features and virtual space exploration capabilities remain largely undeveloped.
Token Distribution and Founder Analysis
The token distribution appears relatively decentralized, with no single entity holding a concerning concentration of tokens. The project team maintains some anonymity, which is not uncommon in the cryptocurrency space but does make it challenging to fully assess their background and intentions.
Technical Implementation
The project utilizes standard Ethereum smart contract technology, with no apparent technical innovations that would raise concerns from a Shariah perspective. The basic token functionality involves straightforward transfer of ownership and value, which aligns with permissible digital asset exchange principles.
Crypto Impact
To assign a comfort level investing in Starlink 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 Starlink.
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.