Most of us in the regular world have no idea what cryptocurrency even is, beyond some sort of internet-based get-rich-quick scheme. But there are plenty within the music world who have jumped in with both feet. We have already learned of the existence of Currency Girls, a crytocurrency-themed J-pop group, and CoinDaddy, a cryptocurrency-themed rapper. And now the once-extremely-popular singer Akon has announced that he’s about to launch his own cryptocurrency, and that it’ll be called Akoin.
Akon signed Lady Gaga and T-Pain, so you would not think that he would ever need to worry about money again. But if you can make a pun out of your name and the word “coin,” I guess that’s just not the sort of opportunity you can pass up.
Page Six reports that Akon announced Akoin at Cannes Lions. The Senegalese-born Akon had this to say:
I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system and also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down… I come with the concepts and let the geeks figure it out.
Akon is developing what he calls “Akon Crypto City” on a 2,000 acre plot of land in Senegal, given to Akon by Senegal’s president. According to this website, it’ll be “a first of its kind 100% crypto-based city with Akoin at the center of transactional life.”