Singer Akon is one of the many celebrities to have dabbled in cryptocurrencies. However, he is probably the only one to use it to launch a city.
Having first announced his plans to establish Akon City in 2018, the Como No artist has now tweeted that he has finalised an agreement with Senegal to create the 2,000-acre city.
What he has described as a “real-life Wakanda” in a reference to the superhero movie Black Panther, will apparently run entirely on his own digital currency Akoin, according to Business Insider.
The cryptocurrency will go live in February 2020 and claims that it will eventually be available across all African countries.
Akon plans to spend the rest of 2020 to develop the concept of Akoin and Akon City.
Other celebrities who have embraced cryptocurrencies include professional boxer turned singer and Philippine senator Manny Pacquiao who announced his PAC Coin in September 2019, boxer Floyd Mayweather has promoted a cryptocurrency marketing firm named Crypto Media Group and tennis player Caroline Wozniacki teamed up with singer Jason Durelo in October 2018 to announce their cryptocurrency via GCOX.
Ghostface Killah, the Wu-Tang Clan rapper, famously issued his own cryptocurrency C.R.E.A.M. in October 2017 and then scrapped it months later after the value of it fell by over 96%. In the end, it went from being worth $0.02 per coin at the launch to $0.0045.
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