Abstract:This movement came from the NFT purchasing Metaverse in worldwide countries. The metaverse is adopted in Thailand. Thai citizens access the virtual world to achieve plentiful activities such as joining the game and buying a digital product called NFT. Thus, people use actual payment and exchange an NFT on the metaverse. However, the level of acceptance regarding the NFT purchasing of Thai customers is an important issue that should be concerned. This study explores concerning to Thai perception related to NFT … Show more
“…20 NFT is also defined as a digital asset in the blockchain network that has a unique identification code and metadata that differs from one another. 21 NFT represents or represents various types of goods, both tangible and intangible with value that cannot be replaced, exchanged or matched with other digital assets because of its unique nature. 22 Each NFT has a record of transactions recorded in the blockchain network.…”
Section: Virtual Land As Non-fungible Token (Nft) Digital Assetmentioning
This research aims to analyze the position of virtual land buying, selling, and leasing practices using cryptocurrency in the metaverse from the perspective of Islamic economic law. This study uses a descriptive analysis method with a normative juridical approach and data analysis techniques through three stages of analysis: focusing the data, presenting the data, and drawing conclusions. The research found that the practice of buying, selling, and leasing virtual land in the metaverse is permissible because it meets the conditions and pillars of a valid contract. The transactions carried out involve intangible assets, namely virtual land and cryptocurrency. In these transactions, there is an expansion of the object of the ijarah (lease) contract, which typically involves the benefit of tangible objects or assets but can also include the benefit of intangible objects or assets, provided that the intangible asset requires another object (a tangible object) or a process that enables the asset to have utility, thus fulfilling the purpose of the contract in accordance with the principles of muamalah maliyyah (financial transactions). The development of the object of the ijarah contract is a scientific contribution to the development of Islamic economic law theory. Therefore, further research is needed on the status of intangible assets as objects of contracts to explore their benefits and legal status in accordance with Sharia principles.
“…20 NFT is also defined as a digital asset in the blockchain network that has a unique identification code and metadata that differs from one another. 21 NFT represents or represents various types of goods, both tangible and intangible with value that cannot be replaced, exchanged or matched with other digital assets because of its unique nature. 22 Each NFT has a record of transactions recorded in the blockchain network.…”
Section: Virtual Land As Non-fungible Token (Nft) Digital Assetmentioning
This research aims to analyze the position of virtual land buying, selling, and leasing practices using cryptocurrency in the metaverse from the perspective of Islamic economic law. This study uses a descriptive analysis method with a normative juridical approach and data analysis techniques through three stages of analysis: focusing the data, presenting the data, and drawing conclusions. The research found that the practice of buying, selling, and leasing virtual land in the metaverse is permissible because it meets the conditions and pillars of a valid contract. The transactions carried out involve intangible assets, namely virtual land and cryptocurrency. In these transactions, there is an expansion of the object of the ijarah (lease) contract, which typically involves the benefit of tangible objects or assets but can also include the benefit of intangible objects or assets, provided that the intangible asset requires another object (a tangible object) or a process that enables the asset to have utility, thus fulfilling the purpose of the contract in accordance with the principles of muamalah maliyyah (financial transactions). The development of the object of the ijarah contract is a scientific contribution to the development of Islamic economic law theory. Therefore, further research is needed on the status of intangible assets as objects of contracts to explore their benefits and legal status in accordance with Sharia principles.
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