Senegalese rapper, Akon, in June 2018 announced his plans to create his own cryptocurrency called â€˜AKoinâ€™. Aside that, he as well announced that he will be building his own â€˜Crypto Cityâ€™ in his native Senegal on 2,000 acres of land gifted to him by the countryâ€™s President, Macky Sall. And now, he has proven to be a man of his words.
The Senegalese hip-hop star and entrepreneur has now announced that he hasÂ â€œjust finalized the agreement for AKON CITY in Senegalâ€. Just to add more flesh to his claim, he also shared an image of himself with the countryâ€™s president holding a bunch of official-looking files, presumably containing the signed papers for the aforementioned Akon City.
Just finalized the agreement for AKON CITY in Senegal. Looking forward to hosting you there in the future pic.twitter.com/dsoYpmjnpf
â€” AKON (@Akon) January 13, 2020
At the original announcement back in 2018, Akon claimed that the proposed development will beÂ â€œa first of its kind 100% crypto-based city with AKoin at the center of transactional lifeâ€. According to theÂ official Akoin website, the upcoming city is just a short 5-minute drive from the new Dakar international airport, and is close to the coast. Describing the crypto city as a â€˜Real-life Wakandaâ€™, the website also claims that the â€˜master-planned cityâ€™ will haveÂ â€œeverything from residential to retail, parks, stadium, light manufacturing, universities, and schoolsâ€.
Do note that Akon and his backers are yet to publish any whitepaper on the proposed cryptocurrency, which makes it a bit impossible to know what weâ€™re looking at. Given the steady stream of failed and fraudulent ICOs (Initial Coin Offerings) over the past few years, it will be best to take the entire Akon City hype with a pinch of salt until we see something more concrete in the days to come.