Halalanft

Ethical Society, Leap Beyond

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Inspiration

Halalanft is an ecosystem that will brings halal perspective as foundation toward the NFTs collection and DeFi protocol that will build in the ecosystem. Halalanft is not just a collection of NFTs that we may see in the market at the moment, which most of them have no utility and only take advantage of the temporary hype. Otherwise, Halalanft is a long-term NFT project that will give benefit to the holder beyond enjoying the art of NFT they have purchased.

Halal aspect is the most important thing for every Muslim in any matter, including halal aspect in this growing web3 industry. Unfortunately, there are very few references about halal aspects in this industry.

Halalanft's first focus is to make the project permissible from Islamic perspective. We will examine what things must be fullfilled for an NFT and cryptocurrency to meet halal compliance. We will also meet the halal certification standards from an Islamic institution that has authority to issue it.

Developing a halal web3 project is certainly a challenge, especially to reach out the Islamic community. We believe that there are enormous potential Muslim or halal market on this emerging web3 industry. With Halalanft, NFT holders will feel more comfortable with the protocol and revenue streams in the ecosystem that we build, without worrying about the sharia prohibition. Halalanft has a sharia advisor in the core team, and we will provide a bunch of references about sharia guidelines in the community.

What it does

We focus on 5 things that will be long-term fundamentals to build NFT’s utility of this project, we call it: House of Halalanft Strategy. We believe that the web3 industry has enormous potential in the future, unfortunately many of the web3 projects ignoring the utility aspect of the token or NFT created. Halalanft will build a halal ecosystem that focuses on providing ultimate NFT’s use cases or utilities so that it has real benefits for holders.

Halal (permissible according to Islamic Perspective) and security aspects are the foundations of the development and operation of Halalanft ecosystem. And to achieve the ultimate NFT’s utility, it needs 3 pillars to achieve it, namely revenue stream, governance, and philanthropy.

1. Revenue Stream

  • Investment in halal manner : on chain & off chain
  • Revenue from protocols : NFT marketplace, Halal Yield Optimizer

2. Philanthrophy

We will build an Islamic Education Care Center (IECC) which will focus on providing scholarships and build Islamic boarding schools, both are main focuses of our philanthropic activities. The scholarship program will be divided into two programs: Muslim Web3 Developer scholarship and scholarship for students pursuing their studies in Islamic boarding schools and Islamic universities.

3. DAO

We aware that the community is important in the web3 project, the success of the web3 project is highly dependent on the loyalty and dedication of the community. Therefore, we will make Halalanft holder have the right to submit a proposal, and right power to vote in determining a proposed proposal. We invite Muslim developers and Muslim art creator and any Halal web3 to join our community. Together we will build Halalanft to be a big and global web3 halal project with a decentralized autonomous organization governance: HalalanDAO.

Thus, to sum up, Halalanft will have the following utilities :

  1. Store of Value
  2. Profit Sharing Rights
  3. Governance Rights

How we built it

This project started from the desire of its founders to build permissible project from the Islamic perspective. With the background of the founders : an Rust Developers and an Industrial Engineer, and with several rounds of brainstorming, a big concept was made about the scope of this project. We design the strategy house, business model canvas, and the roadmap.

Afterwards, we appoint a sharia advisor who has a scientific background in the field of Islamic law and he is currently a lecturer at an Islamic university. We invited a friend to join us as well to lead operation, and we believe he has a good ability at it.

So this is where the initial core team of this project begins.

Regarding business process design of the project we discussed it with our sharia advisor several times until there were absolutely no problems from an Islamic perspective.

This is where we are, keep build as per our whitepaper : strategy house, business model canvas, and roadmap that we have designed.

Challenges we ran into

As we mentioned earlier, there are not many references toward halal aspect of an NFT or cryptocurrency, so with these limited references we have to examine in more detail from the fiqh aspect by ourselves with the direction of our sharia advisor.

Afterwards, it will be not easy challenge when it comes to explaining the halal aspect to muslim in general as our market target where there are islamic scholars who argue that NFT and crypto are haram.

At least, for Muslims who are NFT & cryptocurrency enthusiast at the moment, Halalanft will be a refugee to gather and share. We will build ethical society together, and leap beyond

Accomplishments that we're proud of

To be honest, there have been no proud achievements so far, except for the business concept that we have designed according to the whitepaper and landing page that we have launched : halalanft.com. There is still a lot of homework to be done to achieve the roadmap as promised.

What we learned

  • Halal principles in cryptocurrency and NFTs collection
  • Images that are allowed in an Islamic perspective
  • Build an NFT project in general since halalanft is our first NFT project.

What's next for Halalanft

Halalanft isn't just a JPEG, it's an ecosystem. So, once the NFT collection & marketplace was established, we moved forward to build Halalan Finance which will feature a yield optimizer, decentralized exchange, and stablecoin protocol. And all of it will be built on halal foundation.

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