New York City Mayor-elect Eric Adams is welcoming the launch of the Big Apple’s first-ever cryptocurrency, NewYorkCityCoin (NYCCoin).
Following a tweet from Adams saying that he wants New York to have its own digital asset like Miami, CityCoins announced the activation of NYCCoin mining.
The crypto development firm previously launched MiamiCoin (MIA) back in August. The project generated $4.3 million within 40 days of its initial rollout.
We're glad to welcome you to the global home of Web3! We're counting on tech and innovation to help drive our city forward. https://t.co/SY9pv1Ebct
— Eric Adams (@ericadamsfornyc) November 8, 2021
NYCCoin is powered by CityCoins, a project running on the Stacks Protocol, which enables smart contracts on the Bitcoin network. CityCoins says that people who want to support New York City and help grow its crypto treasury can purchase, mine, and stake the tokens, earning Stacks (STX) and Bitcoin (BTC) in the process.
“NYCCoin is also programmable, enabling builders to improve the city from their keyboard by using NYCCoin to build web3 apps, mint NFTs [non-fungible tokens], or otherwise improve the city’s digital infrastructure.”
The rollout of the digital coin comes as Adams, who will be sworn in as mayor on January 1st, pushes to make New York City the center of the cryptocurrency industry.
Adams also said that he will take his first three checks in Bitcoin after crypto veteran Anthony Pompliano asked on Twitter who would be the first American politician to accept a paycheck in BTC.
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