X
Crypto Overview
Overview
X is a social media token launched in July 2023 by the company formerly known as Twitter, now X Corp. The token is intended to serve as a utility token within the X ecosystem.
Purpose and Utility
The X token is designed to enable payments and tipping on the X social media platform. While the token's full utility is still being developed, it is expected to facilitate peer-to-peer transactions, content creator rewards, and potentially governance functions within the X ecosystem.
Business Model Evaluation
The business model appears focused on facilitating legitimate commerce and social media interactions. There are no apparent elements of gambling, interest-based lending, or other prohibited activities in the core token design.
Real-World Adoption
As of early 2024, the X token's implementation is still in early stages, with limited real-world usage. The platform has obtained money transmitter licenses in several U.S. states, indicating serious intent for legitimate payment functionality.
Development Activity
Development is being led by X Corp's internal team. While specific details of the development roadmap are not public, the company has demonstrated ongoing commitment to expanding the token's utility within their ecosystem.
Token Distribution
Complete token distribution details are not publicly available as the token is still in development phase.
Crypto Impact
To assign a comfort level investing in X 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 X.
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.