American-Senegalese rapper and R&B singer Akon has launched AkoinNFT, a non-fungible tokens (NFTs) platform to “supercharge and empower artists” and brands.
It has been a challenging time for creatives, with many unable to resume activity due to the COVID-19 pandemic. In response, NFTs have seen growth by creating opportunities for struggling artists and their fans.
NFTs are cryptographic assets that can have variable features. They have been used to represent a wide range of unique tangible and intangible items, from art to collectible sports cards to virtual real estate and even digital sneakers.
The AkoinNFT platform will be used for the creation, design, minting and distribution of NFTs for artists who are keen to capitalize on this latest digital art movement.
“We believe in artists of all talents. We support artists for we are artists and there’s never been a better time to put the power back in our collective hands to create a greater connection with fans,” said Akon.
The Taqo team behind the technology and minting of the digital assets said its platform is built on Web3 architecture, the decentralized web adopted by the Ethereum ecosystem.
Akon announced his intention to launch Akoin and its cryptocurrency AKN back in 2018 as a means to bring about a “real-life Wakanda” (referring to the city prominently featured in the “Black Panther” film and comics).
Lately, a number of musicians have been turning their attention to NFTs. In March the rock band Kings of Leon trotted out “golden tickets” as part of its NFT album release. Rapper Post Malone’s concert streaming service, AUX Live, began minting Fyooz-based NFTs that blur the line between art and experience.