I assume you are referring to richcoin.finance, in which case, there isn’t a lot of information to make any objective opinion on this other than it’s just another random crypto coin project, with minimal effort. Their single page website has broken links. The 12 page whitepaper is more like a 2 page document if 12pt font used. And it contains the most basic of information that could be written on fiverr for not a lot more than a “fiver” 🙂
My non shariah opinion would be to stay away from this and any other coin that can be created in a few hours with very little thought. May I ask why you are looking at this coin anyway? What’s unique or special about it to gain your interest?
I’m not referring to that one, I’m referring to the Token of MyRichFarm.com called Rich token or Myrichfarm token. I’d like to mine it but if it’s haram I’ll stay away. I appreciate your effort for replying thođź–¤
OK, good to see you’re not wasting time with a rubbish coin like the one I assumed.
MyRichFarm says in its documents “Holders will be incentivized to stake it in our game to earn yield generated by in-game transactions.”. In game transaction, in particular those from the “Fun Zone” are effectively gambling games (lottery and slots), neither of which are considered halal. If the yield is generated from some haram activities then the yield cannot be considered halal, unless there is a way to separate the yield generation from haram activities, which I’m not sure is the case here?
Also, part of the projects revenue stream is a 1.5% commission from transactions from the fun zone. Therefore the actual projects income from the FZC exchange is partly based on haram games. As a comparison, it’s a bit like owning a share of a casino so I’m not sure how anyone can consider this aspect halal?
However, the other aspects such as owning farm NFT’s, crops, animals etc and generating income from them seem acceptable and comparable to other gaming tokens like AXS, which have been assessed as halal. It’s just the casino element that is clearly haram and you need to establish if there is a way to avoid this section entirely as well as anything else with this type of gambling/ haram activity.
This is based on a very quick review so do not take this as Shariah ruling either way. Since its rank is currently #4067 on coinmarketcap I don’t think anyone will be doing a full shariah assessment on this for a long time, but I hope this helps you make a better judgement for now.
I’m referring to the Token of MyRichFarm.com’s Token called Rich or MyFarmrich token. I’m planning to mine it but if it’s haram then i will cancel my plan. I appreciate your time for replying thođź–¤