Original PR dated 03/04/2023 below
IBF Net, the oldest online community for Islamic business and finance, has announced its initial offering of IBFN tokens on the Polykick platform. IBF Net’s metaverse project built on blockchain and AI technologies has already launched several platforms for multiple Islamic business and finance use cases that can use IBFN token as the intra-network and in-verse currency, facilitating cost-less transactions within the network. The initial offering of IBFN will involve intermediation in the token sale process by Polykick Launchpad platform. The Polykick Launchpad’s rigorous vetting process ensures that only quality Web3 projects get listed on the platform, and the initial launchpad offering (ILO) model ensures safety for both the project and the backers.
Commenting on the announcement, Mohammed Alim, CEO of IBF Net said, “The launch of IBFN tokens on Polykick platform is a significant step towards achieving our mission of building a halal ecosystem inside a 3D immersive environment. We strongly feel that the ILO model is a novel experiment to fund our expansion while addressing some critical Shariah issues relating to initial token offerings.”
According to Dr. Ahmad Younes, co-founder of Polykick, “Innovation lies at the core of Polykick’s mission, and we are changing the game of Web3 fundraising. Our revolutionary ILO model represents the latest evolution of fundraising in this space. Polykick is driving the Web3 industry forward, setting a new standard for launching and funding initiatives.”. Dr. Mohammad Abo Jazar, co-founder at Polykick added, “We pride ourselves on maintaining high ethical standards and values across our products, services, and offerings. Our commitment to empowerment, safety, and ethics is reflected in every project we support, and we are pleased to extend our support to IBF Net in their mission to empower the Islamic economy through an immersive metaverse ecosystem.”
IBF Net’s halal metaverse in the next phase involves building a virtual city around its existing centers for open learning and trade in halal goods and services. According to Mufti Faraz Adam of Amanah Advisors UK, “the halal metaverse should create better markets with more transparency and inclusivity allowing users to interact in a manner consistent with Islamic etiquette and culture”. Amanah Advisors have already developed the guidelines for IBF Net’s metaverse users that would be subjected to continuous refinement based on community feedback.
With the launch of IBF Net’s tokens on Polykick platform, the company aims to raise additional resources for creating a world-class halal ecosystem that leverages the power of blockchain, AI, and metaverse technologies to drive economic and financial inclusion for the Muslim community.