Bitcoin Forum

I recently read about Akoin (https://akoinprice.com/), which comes from Akon. I am sure everyone knows who he is. So how do you see this Crypto? I mean is it worth investing in with such a popular name pushing it?

I honestly don’t have a lot of information about it but just the name caught my attention and his vision for the project. So I really like to hear if anyone here has already invested in or how they see it.

I know who Akon is and I'm a fan but I'm still not so sure that what he plans to do will work, it's like creating a city with A.I technology, all the money he planned to spend on this AKOIN project and all the partnership and government support sounds promising but blockchain?? Maybe he should just build hospital and schools and more jobs for Africa people, don't see why this is happening on blockchain

Did he manage to make their own announcement  for the project if he is the real owner?

Even the owner is popular it doesn't mean it will create demand for the coins created there should always be a use cases  of the coins to get demand.

I think it's not yet on the market checked it both on Coinmarketcap and Coingecko and it's not there I read this coin months ago but it's not moving in terms of marketing, do we have an official announcement, as I can't see one, I doubt if this coin will become popular or profitable in the market without a use case. 

It's on the media news articles everywhere and that makes it valid that he's the genuine owner of the coin.

Singer Akon has finalized plans to build a 2,000-acre city in Senegal that's powered by his cryptocurrency, Akoin (https://www.businessinsider.com/akon-cryptocurrency-akoin-city-senegal-2020-1)

Rapper Akon Shares Whitepaper for Upcoming Cryptocurrency (https://cointelegraph.com/news/rapper-akon-shares-whitepaper-for-upcoming-cryptocurrency)

There can be sort of demand but the real question is how long it will last. He seem to have a use case but I don't think that's still enough because we already have bitcoin and ethereum which he can actually refer as 'our own currency'.

AKOIN is for building and growing businesses in Africa, the website says Akoin is a cryptocurrency powered by a marketplace of tools and services fueling the dreams of entrepreneurs, business owners, and social activists as they connect and engage across the rising economies of Africa, but honestly I don't see how this will be successful

This is more like a charity project than a profitable one. Akon needed to do something for Africa and he did it in better way.
There were several of such charity projects that built stadiums in Latin America and many of them are focused on Africa. Corruption and dirty politics is what has hurt Africa the most and with blockchain, they are bringing in some transparency.

Yes, and I also doubt that this coin has not moved in terms of marketing, because the popularity of a token is certainly seen from the development of marketing, because everyone knows something with marketing first.

It has a good chance to succeed Akon has the money, it goes out to the kind of people he will hire to market and create a roadmap and implement all the best features of his project, he has a name he can make it work and he also has a good reputation in the industry where he is working.

Why would I care if some famous person starts a token? Does akon supporting it suddenly makes that coin a lot better than others? Even if that dude is aware of what he is getting himself into which is a very tough market to breakthrhough, that doesn't change the shit that famous name only makes sure that you can know who to blame when the project fails but that is about it, there is nothing else you could do if the project fails.

Additionally, unless he is an amazing coder himself that means he is going to just hire a coder anyway, and I rather know who the coder is behind a project when I am putting in the money, tell me who coded the blockchain that I am investing so much before telling me who is the face of the product. Basically akon means nothing around here, not to me anyway.

I'm thinking that a thread of such coin by Akon was brought up here in this forum in the past because this isn't my first time to here about it. I thought is a forgotten project but now that op has brought it up I will check for how it has been with the project.

Maybe it could be good for short-term speculation, but I do not really think that singer could really understand the blockchain technology more than thousands of Bitcoin or Ethereum developers.  :D

I am not a fan of people backed coins even if they are famous or a celebrity because such coins serve no purpose, they have literally no use cases, we can also call them smoke and ashes kind of coins because we do not know about their utility or usefulness so i classify them in sh#tcoins and do not suggest investing or holding.

l think we must prefer Akoin for short-term investments, that is why this project is so new and we have not so much information about the project. But as we know everybody tries to join this world and l don't think that all of the people like the singer can understand blockchain. That is why l can not trust this project, but it doesn't mean it will not be successful or on the contrary. Maybe you can try it.

Do you know why he creates it? Because it will bring him a lot of money, not because he wants to create better world. Becareful and trust only in Bitcoin because its creator didn´t earn anything by creating such admirable solution.  ;)

Have you read the whitepaper?

You have to understood first about the ins and out of the coin before you have an intention to make it as your investment. Just a coin/token which has a real use that can be using by most people will survive and the rest will end up becomes shitcoin.

You don't need to see the popularity of the token/coin owner sometime it is just a trick. I don't know much abiut this coin and Indeed there is a celebrities or some people who has a popularity decided to make their own coin. A year ago I see the famous boxer namely Manny Pacquiao created a token. His intention is to make easier for his fans to buy his stuff. 

As the name caught your attention so does it also happen to others but i want you to understand that the project is mainly for the development of Akoin city (estate), offer micro lending (loan services) etc. I dont see anything  special and utility which will make this coin flourish in some years

Well, I would say this coin might slowly move uptrend as everyone knows Akon in most of the countries. people will believe on his project and when it comes to trust and security he's a well known actor and a big celebrity as well so hopefully he may not disappoint in scams, still think, plan and invest accordingly if some interested.. also make sure you through the white paper before investing hopefully it will be a good project..

I think Akoin is real project and it's related to Akon. I'm a fan of Akon, i found on his Twitter a tweet about Akoin, it's here https://twitter.com/Akon/status/1255136341630709762.
I read a newspaper on Cointelegraph that Akon want a currency which is trusted to use across Africa and that's why Akoin born.
https://magazine.cointelegraph.com/2020/04/16/journeys-in-blockchain-akon-city-akoin/

I respect the fact Akon is among the celebrity who's a crypto enthusiast and him coming out about it by creating his own project will make people trust his project cause there's no reason for Akon to scam the poor people who will invest in the project but the question is does Akon himself have the knowledge with the capacity to manage the project(Akoin]) to the level of it not quench off the market.

I think this will concentrate more  on Africa. Held he is building a smart city in Senegal. Maybe he wants to turn Senegal to an economic hub in Africa, Cryptocurrency can help achieve this move if done properly.

I know who he is, but regarding the token or project he is trying to build I don't have any Idea. But we'll we what he can do and what the project can offer to the crypto community. Being celebrity does not guarantee the project's success and one great example for that is Pac Token which is owned or partly owned by Manny Pacquioa, together with other celebrities which had a huge hype starting up but suddenly but slowly went missing from the scene and have mot heard anything since.

1. The project akoin has been around for a while and anchored by the popular akon for grass-roots development in Senegal i think.

2. The project has failed to generate necessary hypes and i believe this is because it is more of a Donating platform than for investment because funds received are for designated goals already aligned.

There's not much information about the project, because there's no hype or bounty campaign on it, I have read an article about it but it's just a planning them I think he wants to target his country for support or development,unless they do massive marketing people will not going to understand the project.

Couldn't agree more, people shouldn't be swayed by its popularity and used it as basis to invest. Investors should consider the possibilities and do research to identify if the project is worth of time and money. It is unsafe to invest without doing a background investigation, and people should be careful when it comes to money. I don't underestimate the potentiality of this project, but there's a lot of factors that may affect your investment.