Back in April, it was reported that Akon planned to build a futuristic "Akon City" in Uganda. Along with Akon City, Akon launched AKOIN, his very own cryptocurrency.
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According to the AKOIN website, which includes Akon City details and explains how it fits into the "I'm So Paid" singer's efforts to bring resources and technological opportunities to Africa, AKOIN is "a cryptocurrency powered by a blockchain based eco-system of tools and services designed for entrepreneurs in the rising economies of Africa."
In a recent Instagram post, Akon revealed a significant AKOIN development.
Posing with a credit card emblazoned with the cryptocurrency's logo, he announced the launch of the AKOIN Card.
"It’s Done," Akon wrote. "The official AKOIN Card!!! Which allows you to now spend your AKOIN (AKN) were ever master card is excepted. I’m sure you can’t freely spend your crypto in any of your favorite stores right? Well you can with AKOIN (AKN) so grab yours now on BitMart.com before we expand to the major exchanges."
While Akon has emerged as a pioneer as a musician in the tech space, and few other artists can match his community-building efforts, this announcement is symbolic of a greater shift in music as a whole. Two days ago Collins Dictionary named "NFT" its 2021 word of the year. Seemingly every day, another artists releases their own NFT collection. Artists are now taking their payments in Bitcoin and entering into partnerships with cryptocurrency payment platforms. Cryptocurrencies, NFTs, and the blockchain technology that powers it all slowly surrounded music, and in what feels like the matter of months, embedded themselves into the fabric of the industry, and show no signs of slowing down. It's unlikely that a ton of other artists create their own cryptocurrency like AKOIN, but it's already a ton of other artists are going to capitalize on their current popularity and ever-growing importance.
What do you think of the AKOIN Card? Let us know down in the comments.