R&B Artist Akon Denies Claims His Crypto City Dream Is Crumbling – Akon, an R&B artist and music producer, is believed to have offered to reimburse disillusioned supporters who have been waiting for refunds from his token of appreciation (TOA) campaign. The Senegalese-American singer further informed TOA holders that he is willing to utilize his personal finances to guarantee the fulfillment of this commitment. “I’m dead serious. I would do a world tour just to pay them all back,” the award-winning artist reportedly said. Launched in 2019, Akon’s TOA was given to his early financial backers.
Not only was the TOA a precursor to the akoin cryptocurrency, but it purportedly also provided supporters with a means to buy the crypto. After more than two years of waiting, however, some early backers have lost faith and are now requesting refunds. During an interview with the BBC, Akon implied that his ambitious but long-delayed mega-construction project, Akon City, is still on track, despite his apparent acknowledgment that some supporters have lost trust in the endeavor.
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According to a news outlet, the initial phase of building on the singer’s “futuristic cryptocurrency-themed city” was expected to begin in the second half of 2020. Following the announcement of the singer’s reported multibillion-dollar project, Akon’s team revealed that the initial phase, which included the construction of hotels, a school, a waste facility, and a solar power plant, would be complete by the end of 2023.
Akon, who blames the Covid-19 pandemic for the delay, admitted during the interview that he should “have gotten more things in place before promoting it.” The singer is adamant that his project, which was “co-signed by the current (Senegalese) president,” remains viable. “I plan to retire in that city. I don’t like to use the word the king of the city. But that’s what it will turn out to be,” Akon reportedly said. During the interview, the R&B singer was also asked to respond to investor 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 however we involve crypto within the city is in a way that it lines up with all the rules and regulations.” As explained in the BBC report, the BCEAO has not only warned of the dangers of using crypto but has reportedly called it illegal. Meanwhile, when asked if the akoin cryptocurrency is still the preferred medium of exchange in the envisaged city, Akon promised to have this “figured out by the time the city’s up, that’s for sure.”
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