Akon has finalised an agreement with the Senegalese government to build his own city, CNN reports.
Akon City will be built on a 2,000-acre piece of land which has been gifted to him by the president of Senegal and will exclusively use Akon’s digital currency, Akoin, for financial transactions.
“Just finalized the agreement for AKON CITY in Senegal. Looking forward to hosting you there in the future,” tweeted the Senegalese-born pop star.
Akoin was announced in 2020, at around the same time that Akon City was first unveiled as a concept.
The pop star’s cryptocurrency doesn’t have a white paper yet, however, meaning that many details about the new digital currency are unclear.
This whitepaper is set to be released on the Akoin website before February 2020; however, Akon has already been pitching his digital currency to investors.
Akon claims on his website that the goal behind Akoin is to help young people progress both financially and socially.
“Young entrepreneurs are everywhere, now, with Akoin, they have both a currency and a platform to help them make a positive economic and social impact,” said Akon.
Akoin is expected to be listed on exchanges in the first half of 2020.
Just finalized the agreement for AKON CITY in Senegal. Looking forward to hosting you there in the future pic.twitter.com/dsoYpmjnpf
— AKON (@Akon) January 13, 2020