XCAD Network

Halal Rating :
Comfortable
Last Price $0.30 Last updated:
Rank 1007
1D Change 0.75 %
Market Cap $14.11m
Circulating supply 47,726,796
Maximum supply None

Crypto Overview

Categories
  • Communications & Social Media
  • Collectibles & NFTs
  • Content Creation

Project Overview

XCAD Network is a tokenized creator economy platform built on the Zilliqa blockchain that enables content creators to tokenize themselves through Creator Tokens while providing tools for fan engagement and creator monetization. The project aims to bridge the gap between traditional content creation platforms and Web3.

Intended Utility

The XCAD token serves multiple purposes within the ecosystem: governance rights for protocol decisions, staking capabilities for earning rewards, and as a means of payment for services within the XCAD ecosystem. It powers the Creator Economy and enables fans to engage with content creators through token-based interactions.

Actual Utility Assessment

The platform has demonstrated real-world adoption through partnerships with prominent YouTubers and content creators. The ecosystem includes a browser plugin for YouTube that enables token-based engagement and rewards, NFT marketplaces, and creator tokens. Development activity is consistent, with regular updates and improvements to the platform.

Token Distribution and Governance

The token distribution includes vesting periods for team members and early investors, showing consideration for long-term sustainability. The project maintains transparency in its operations and development progress. A significant portion of tokens is allocated to ecosystem development and community rewards.

Revenue Model

The platform generates revenue through transaction fees from creator token trades, NFT sales, and platform services. These mechanisms do not involve interest-bearing products or riba.

Crypto Impact

To assign a comfort level investing in XCAD Network 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 XCAD Network.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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Justification for our Halal Rating