Virtuals Protocol
Crypto Overview
Project Overview
Virtuals Protocol is an NFT gaming ecosystem that aims to build a comprehensive Web3 gaming platform. The VIRTUAL token serves as the native currency for transactions within the ecosystem.
Purpose and Utility
The primary stated purpose of VIRTUAL is to facilitate transactions within the Virtuals Protocol gaming ecosystem, including NFT trading, in-game purchases, and reward distribution to players and stakeholders.
Business Model Evaluation
The platform's focus on gaming and NFT trading aligns with permissible activities under Islamic principles as it involves the exchange of digital assets with clear utility and ownership rights. The platform does not engage in interest-bearing activities or gambling-based games.
Development Activity and Adoption
The project shows active development with regular updates to their platform and gaming ecosystem. While adoption is still in early stages, there is evidence of genuine user engagement in their NFT marketplace and gaming platform.
Token Distribution
The token distribution appears balanced with allocations for development, community rewards, and ecosystem growth. Founder tokens have vesting periods implemented to prevent immediate selling pressure.
Crypto Impact
To assign a comfort level investing in Virtuals Protocol 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 Virtuals Protocol.
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.