Fnalysis.
Failed Utopia
Akon tried to build a "real-life Wakanda" in Senegal, funded by his own cryptocurrency
Akon City promised curved skyscrapers, film studios, and even flying-car parking, all paid for in Akoin. The project never took off: Senegal reclaimed the land over lack of progress, and the token dropped to $0.003.
The project launched in 2018 with heavy media buzz, futuristic renderings, and even symbolic backing from the Senegalese government, which set aside land near Mbodiène for construction. Years later, only a handful of basic structures had been built, and investors who bought Akoin on the promise of a "crypto city" were left holding a token that lost almost all its value.
Source: Foreign Policy →Cardboard-cutout Wakanda.