Assalamu alaikum! I have some questions regarding NFTs and I’m hoping you can answer them.
I understand that the type of NFT trading that exists today is not allowed in Islam, and I have avoided NFT trading for this reason. However, five months ago, a well-known influencer and public figure in Pakistan launched an NFT project with the purpose of guiding Pakistanis in this new technology. The NFT project allowed free minting and there were 1000 NFTs available. Many people did not know about the project initially, and it took two days for all 1000 NFTs to be fully minted. Anyone could mint as many as they wanted by paying the gas fees in ETH. I minted 40 NFTs by paying gas fees.
After the influencer shared the project on other social media platforms, more people learned about it and those who had minted the NFTs listed them on OpenSea, causing the floor price to rise. His followers wanted to buy, so they did, and I sold 20 of my NFTs. I still have some because the market is currently down and the influencer is still working on the NFT project.
Now, my questions are as follows:
- Is there any issue with NFT trading in general?
- The art of the NFT project has a pyramid with eyes on it. Does this pose any concerns?
- The NFT project has six different types of art, and when I minted, I did not know which specific NFT I would receive, only that it would be from one of the six types of art. Is there any issue with this?
- The owner of the NFT project will receive a royalty of 2.5%. Is there any concern with this?
