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of Senegalese-American musician and billionaire Akon continues his whimsical quest to build a city in Senegal called ‘Akon City’.
First announced in 2018, Akon planned to create a $6 billion city for Africans dependent on new digital payment methods. But today, Akoin’s value has plummeted to around $0.012 after he was $0.28 in September 2021 when he first launched on the BitMart crypto exchange.
Senegal does not recognize cryptocurrencies as legal tender, but that did not deter Akon from going all out with the project.
Akon recently told the BBC that he would like to “ensure that any cryptocurrency involvement within the city is in line with all rules and regulations.”
“I’m going to retire in that city,” said Akon.[s] “King of the City” But that’s the result. ”
But Akon admits the city was hastily planned, with Covid-19 derailing the project and the project is not yet off the ground. He also commented on what he would have done differently: “I would have had more things in order before I advertised it,” he said. I didn’t.”
“We are trying to build the city as soon as possible,” he said, noting that Senegal’s president had “co-signed” a contract to lease land for the project for half a century.
“We believe in the city of Akon and we are all supporting Akon to bring it back to life,” Me Aliou Sow, CEO of the country’s tourism board, told the BBC. rice field. “It will attract tourists and investors in the region. SAPCO is fully committed to the success of this project.”
However, the cryptocurrency project has its fair share of critics. Two years before Akoin launched, the project announced a pre-sale known as the Token of Appreciation (TOA) campaign. Billed as a “donation,” the investor was lured in by the promise that for every $1 of his invested he would be converted into four tokens of gratitude, which would ultimately transfer him to Akoin.
Akon’s campaign said it raised about $300,000 during this presale, after which the Akon administration promised to provide a refund or Akoin Mastercard equivalent to investors’ initial donations in 2019. Did.
But even those who have requested a refund have not received it. One person told the BBC that they had expected to wait a few weeks, but it has been over a year. are armed,” said an investor named Marcus.
However, Akon reassures customers that their money will be refunded.
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