Nick Chong · 1 day ago · 2 min read
News › Africa › Partnerships
Akon’s Akoin partners with Roll to allow creators to launch their own “social money”
Akoin, the cryptocurrency and decentralized app ecosystem developed by popular music artist Akon, has partnered with Roll, a blockchain platform that enables creators to develop their own branded digital currency (called social money) unique to their online presence.
The product will initially be available to users in Asia and the US and later be expanded to the African market in 2021, as per a release shared with CryptoSlate.
It will use Akoin’s strong network of connections to help creators launch their own social money through which they can nurture, grow, and develop their communities.
Jon Karas, the president and co-founder of Akoin, commented on the partnership:
“We couldn’t be more excited about partnering with Roll, the industry leader in bringing creators all over the world into the revolutionary world of social money, this is a gamechanger in terms of creator empowerment and community building and activation through the power of blockchain and social money.”
What is “social” money?
Creators on Roll mint the so-called “social money” to own, control, and coordinate the value they create across the web. This allows creators to build the dollar value of their community and give it back to their biggest supporters.
Akoin and Akon will use their brand to help turn the concept of social money into a global phenomenon. Global artists, creators, and thought leaders will also be able to join Akon’s own Akoin-endorsed Roll channel, the release stated.
At press time, Roll works with over 260 creators and has created over a quarter billion dollars of market value using social money. Sid Kalla, the CTO of Roll, said in the regard:
“It’s important to reach beyond the immediate crypto-native audience and start thinking deeply about how everyday people will really use and embrace Ethereum and other blockchain technology.”
Social money on Roll has created seven, eight, and nine-figure markets for digital communities, giving users a stake in the success of the communities they helped to build.
The Akon factor
Akon’s experience of developing the Akoin brand using his status as an artist is a strong example of how creators can develop and grow their own social money, demonstrating the power of giving value to assets using blockchain technology, the release noted.
It added that Akon’s own team of experts will be able to provide support to new creators who sign up with Roll, allowing them to benefit from their guidance and experience in creating their own forms of social money.
As per the roadmap, the team’s foray into 2021 will see the partnership expand to empower artists and creators in Africa and encourage them to use Roll to grow and sustain entrepreneurship in their diverse communities.
Each creator who joins the Akoin-endorsed Roll channel will be able to allocate a percentage of their newly-minted social money to help develop and launch more UN-backed Akoin-Effect Opportunity Hubs.
These are specialist centers based in Kenya, Senegal, and Ghana where people can gain access to AI/blockchain-based online work, with the first center, in Kenya, expected to open later this year.