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Journal : maqasidi

Investment in Non-Fungible Token (NFT) Digital Assets from Hadith Perspective: An Analysis of Gharar and Maisir Elements Muhammad, Alfan Jawahir; Arif, Zainal; Nurafni, Fina
MAQASIDI: Jurnal Syariah dan Hukum Vol. 5, No. 2 (Desember 2025)
Publisher : MAQASIDI: Jurnal Syariah dan Hukum published by the Islamic Criminal Law Program of the Sharia and Islamic Economics Department at the Sekolah Tinggi Agama Islam Negeri Teungku Dirundeng Meulaboh

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47498/10.47498/maqasidi.v5i2.6335

Abstract

 The advancement of blockchain technology has introduced new digital economic instruments, notably Non-Fungible Tokens (NFTs), which function not only as representations of digital asset ownership but also as investment vehicles with highly volatile values. This development has sparked debates within Islamic law, particularly regarding the presence of gharar (excessive uncertainty) and maisir (speculative gambling) in NFT investment practices. This study examines the legal status of NFT investment from the perspective of ḥadīth-based muʿāmalah and analyzes the extent to which gharar and maisir are inherent in its transactional mechanisms. Employing a qualitative library research approach, this study uses descriptive-analytical methods to examine Prophetic ḥadīths prohibiting gharar and maisir, and contextualizes them within the technical characteristics and transaction structures of NFTs. Data sources include classical ḥadīth collections, ḥadīth commentaries, fiqh al-muʿāmalah literature, and relevant contemporary scholarly works. The findings indicate that NFTs, as digital assets, possess definable objects, ownership clarity, and verifiable delivery through blockchain technology, and therefore do not inherently constitute gharar. However, the use of cryptocurrency, extreme price volatility, and short-term speculative behavior may introduce elements of gharar and maisir if not accompanied by clear valuation, utility, and investment objectives. Consequently, the permissibility of NFT investment cannot be generalized but must be assessed contextually to uphold justice and the protection of wealth (ḥifẓ al-māl).
Co-Authors A. Abdullah, Nasruddin Abdillah, Tegar Abdul Rahman, Nazaruddin Achmad Jusuf Zulfikar Affan, Mohammad Firza Afiful Ikhwan Agus Rinaldi Ahmad Suryadi, Ahmad Ahmad, Nazli Aidi Sutikno Alfarizi, Mohammad Risko Alfina Trisman Yanti Ali, Masri ALI, NURDIN Ali, Nurdin Ali, Sulaiman Alnanda Hafiez Lagalgarin Amalia Harmin Ami Nur Jihan Andriansah, Febri Anip Dwi Saputro, Anip Dwi Anta Maulana, Riza Arifin, Ja’far Ariyanto, Ayok Atep Hendang Waluya ATIN, SRI - Awang, Abu Ilham Azzahra, Aprodita Baehaqi Bahri, Efri Syamsul Basyit, Abdul Bintang, Adinda Putri Mutiara Chyndi Chelvia Cut Inayah Cut, Banta Devy Suhendar Dwitha Nirmala Endang Rudiatin Fatahillah, Tubagus Abdull Fazri Amir fitria, Zul Habibi, Ananda Handayani, Nurlaila Happy Susanto Harmin, Amelia Hasmi, Farhan Husaini Husaini Husein, Mohamad Akmal Alwi Husni Ihsan, Ahmad IRMA DEWI Irza Sukmana, Irza ISKANDAR Iskandar Iskandar Itaqlala, Nabilah Izhar Amri, Muhammad Jahan, Rayhan Shah Jayawarsa, A.A. Ketut Joshua Tri Saputra Junaidi Junaidi Kamil, Syahiir Kartika, Fitria likhun, Muf Lola Yustrisia Lubis, Maysaroh Luthfi Furqan Hidayah M. Nizar Machmud M. Reza Prima Mahbubul Wathoni Mahfiroh, Ririn Maidin, Maidin Maliki, Abd. Manuels, Arif Masri Ibrahim Meitriana, Inggit Menazmi, Teuku Mizanus Sabri, Faris Ahmad Moh. Khoirul Anam Muh. Tajab, Muh. Muhamad Zen Muhammad Amin Muhammad Amin Muhammad Idris Muhammad Idris Muhammad Syafii Muhammad Zulfri Muhammad, Alfan Jawahir Muhammad, Ichwan Arifin Munawar Reza Muqadis Ilhafa Mursyidah Mursyidah Muslich, Ahmad Nadya, Yusri Nafrizal Nanda Saleysia Aziza Nasruddin Nasruddin Nasution, Elvy Sahnur Nasution, Fadly A. Kurniawan Nazaruddin Abdul Rachman Nazaruddin Abdul Rachman Nurafni, Fina Nurbojatmiko Nurbojatmiko, Nurbojatmiko Nurman Pamungkas Patmawati Purnaya, Adjy Putra, Alfito Rahman Ramadani Siregar Ramadhan, Muhammad Afin Ramadhani, Rizky Randa Pratama Raziqin, Muhammad Khairul Rejeki Josua Purba, Heri Reza, Nursyahril Rifah Nurhidayah Rifaldi, Dwi Rita Syntia Rita Syntia Ritonga, Abriandi Sahputera Ritonga, Din Aswan A. Riyansah Botutihe, Rahmad Rizal Adi Saputra Rohman, Agus Hidayatul Rosyadan, Dafa Amrina Rosyadi , Zidan Nayyiv Rosyadi, Fazlur Rahman Rustiana, Siti Hamidah Safi'i, Muhamad Salamun, Ade Salsabilah Samsul Rizal Santika, Murni Sariyusda, Sariyusda Septiani, Adinda Dwi Sigit Dwi Laksana Sigit, Sigit Dwi Laksana Sihombing, Bryan Stein Siswo Pranoto Slamet Royadi Sri Cahyani Sri Mulyati Suandhana, Uud Pandu Sudin, Mahmudin SUGIYANTO Suheri Suheri Suheri - Suheri Suheri Suheri Sulaiman Thalib Sumawijaya Supriadi Surawan, Surawan Suri Purnama Febri Syahrizal Syifaul Huzni Syifaul Huzni Taufan Arif Adlie Taufiq Kamil Teuku Azuar Rizal Teuku Kamaruzzaman Ulinnuha, Kamila Utama, Indra Utami S, Wanda Valencia, Marcella Widodo, Syamsul Bahri Yakob Iskandar Yakob, Iskandar Yasin Efendi Zaedi, Muhamad Zahira, Hasna Zakir Husin Zulfiko, Riki Zulfitria Zulfitria, Zulfitria Zulhanif Zulkarnain Umar Zulkarnain Zulkarnain