I recently came upon some NFTs that caught my eye. I don’t have any interest in trading or gambling with it. Can it be considered as those Pokémon cards that we used in our childhood. I wanted to know more about its trade through the shariah law. Can someone from the community, tell me more about it.
My understanding of NFTs (which is probably quite limited) is that it is more similar to an asset or commodity than it is a stock. So I kind of think of it like a car or something. It’ll probably appreciate/depreciate in value over time. So the question becomes the nature of the item the NFT represents, and whether you are comfortable buying and selling things of that nature. Having said that, I don’t think there’s a purification factor to any earnings you can make from selling an NFT (this might actually go under assets/possessed cash when doing Zakat calculations). But I would love to know what you think, and how others respond.
I put NFT into the exotic ‘assets’ category. Absolutely 0 interest in them. I am not sure why there is so much fascination with all these new age things when the boring high quality companies can be invested into for wealth preservation / growth.