WAX
Crypto Overview
Understanding the Intended Utility
WAX is designed as a purpose-built blockchain specifically for NFTs, video games, and collectibles. The platform aims to make e-commerce transactions faster, easier, and safer for all participants. The WAXP token serves as the native currency of the WAX blockchain, used for network fees, governance, and transactions within the ecosystem.
Business Model Evaluation
The WAX blockchain operates through a Delegated Proof of Stake (DPoS) consensus mechanism, which is energy-efficient and supports high transaction throughput. The platform generates revenue through transaction fees and marketplace commissions, which is a transparent and halal business model.
Actual Utility Assessment
WAX has demonstrated significant real-world adoption, particularly in the gaming and NFT sectors. Notable partnerships include collaborations with major brands like Funko, Topps, and NASCAR. The platform hosts numerous decentralized applications (dApps) and NFT marketplaces, showing active usage of its intended utility.
Development Activity
The WAX blockchain maintains active development, with regular updates and improvements to its infrastructure. The GitHub repository shows consistent commits, and the team regularly publishes technical updates and roadmap progress.
Token Distribution Analysis
The initial token distribution allocated 64.79% to private sale investors, 5% to founders and team (subject to vesting), and 30.21% to ecosystem development and community initiatives. The vesting schedule for team tokens extends over multiple years, reducing the risk of sudden selling pressure.
Ecosystem and Use Cases
The WAX ecosystem primarily focuses on legitimate business activities, including digital collectibles, gaming assets, and NFT trading. These activities involve actual asset ownership and value exchange, distinguishing them from gambling or speculative activities without underlying utility.
Crypto Impact
To assign a comfort level investing in WAX 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 WAX.
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.