R&B artist Akon denies his Crypto City dream is crumbling – Africa Bitcoin News

Senegalese-American artist Akon reportedly reassured attendees in his so-called token of appreciation (TOA) that they will be reimbursed for donations. To back up this promise, the singer allegedly said he was even willing to go on “a world tour just to pay them all back.” Akon, however, admitted in an interview that he should have “put more things right before promoting it [Akon City].”

Singer ready to go on a world tour for token holders

Rhythm and blues (R&B) singer and music producer Akon has reportedly promised to pay back disillusioned backers who have been waiting for refunds from his Token Appreciation (TOA) campaign. The Senegalese-American artist also told TOA holders that he is willing to use his own funds to ensure that this pledge is honored.

“I’m deadly serious. I would go on a world tour just to pay them all off,” the award-winning artist reportedly said.

Launched in 2019, Akon’s TOA was given to its first lenders. The TOA was not only a precursor to the akoin cryptocurrency, but also reportedly offered supporters the opportunity to acquire the cryptocurrency. However, after more than two years of waiting, some early backers have lost faith and are now demanding refunds.

Though he ostensibly acknowledged that some backers have lost faith in the project, Akon hinted during an interview with the BBC that his ambitious but much-delayed mega-build project – Akon City – is still on track. As reported by Bitcoin.com News, the initial phase construction of the singer’s “futuristic cryptocurrency-themed city” is expected to begin in the second half of 2020.

Following the announcement of the singer’s multibillion-dollar project, Akon’s team revealed that the initial phase, which included the construction of hotels, a school, a landfill and a solar power plant, would be completed by the end of 2023. However, according to the BBC report, the site of the mega city of Akon has now become a pasture for goats.

The Akon City dream is still alive

During the interview, Akon – who blames the Covid-19 pandemic for causing the delay – admitted that he should have “put more things straight before promoting it”. However, the singer is adamant that his project, which was “co-signed by the current [Senegalese] president” is still alive.

“I intend to retire to that city. I don’t like to use the word king of the city. But that’s what it will turn out to be,” Akon said.

During the interview, the R&B singer was also asked to address investors’ concerns about the legality of using a cryptocurrency in a jurisdiction regulated by the Central Bank of West African States (BCEAO). he said.

I want to make sure that we still involve cryptocurrencies within the city in a way that is in line with all the rules and regulations.

As explained in the BBC report, the BCEAO has not only warned of the dangers of using cryptocurrencies, but has reportedly called it illegal.

Meanwhile, when asked if the akoin cryptocurrency was still the preferred medium of exchange in the imagined city, Akon promised that he “figured it out when the city is ready, that’s for sure.”

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Terence Zimwara

Terence Zimwara is a Zimbabwean journalist, author and award-winning writer. He has written extensively on the economic woes of some African countries and how digital currencies can provide Africans with an escape.

Image credits: Shutterstock, Pixabay, Wiki Commons, miguelca / Shutterstock.com

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