Starlink
Crypto Overview
Project Overview
Starlink (STARL) is a metaverse cryptocurrency project launched in July 2021, aiming to create a virtual space exploration and gaming ecosystem. The project positions itself as a decentralized virtual space project where users can explore, trade virtual real estate, and participate in space-themed activities.
Intended Utility
The token is designed to serve as the primary currency within the Starlink metaverse, intended for purchasing virtual land, spacecraft, and other in-game assets. It also claims to offer governance rights to token holders.
Actual Utility Assessment
Current analysis reveals minimal development activity since 2022, with the project showing signs of stagnation. The promised metaverse platform remains largely undeveloped, and real-world adoption appears limited. On-chain data shows most token activity is concentrated in trading rather than utility-based transactions.
Token Distribution and Governance
The token distribution raises several concerns: A significant portion was allocated to the founding team without clear vesting schedules. The project's marketing spending far exceeded development efforts, particularly in its early stages. Recent blockchain analysis shows high concentration of tokens among a small number of addresses.
Development Activity
Github repositories show minimal recent commits, and the project's roadmap milestones have largely been missed. The last substantial update to the project's development was over a year ago, suggesting possible abandonment of the original vision.
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.