BlockchainNew York launches its own crypto coin NYCCoin

New York launches its own crypto coin NYCCoin

“CityCoins” seem to be starting to become all the rage. These cryptos issued on behalf of large cities have already succeeded in seducing Miami, Florida, which has launched its MiamiCoin . It is now New York City and its new mayor who are embarking on the race for the city that will have the best crypto to its name.

After MiamiCoin, NYCCoin is coming to the fore

The CityCoins project aims to allow everyone to invest in a city by buying dedicated tokens . Miami and its mayor Francis Suarez have already agreed to participate in this project, accepting the profits generated by MiamiCoin. These CityCoins are based on the blockchain Stacks (STX). The latter is intended as a second layer network of Bitcoin (BTC), which facilitates the use of smart contracts and the development of decentralized applications (dApps).

According to a publication by TheBlock, since the launch of MiamiCoin last August, this protocol has already generated $ 21.3 million in additional revenue for the Municipality of Miami, enough to make other mayors want.

And this is precisely an opportunity that the newly elected mayor of New York could not miss. Indeed, Eric Adams had already been very crypto-enthusiastic even though he was only a candidate for the post, and announced as soon as he was elected that he wanted to receive his first 3 salaries as mayor in BTC .

It is already possible to earn NYCCoins

Since this Wednesday, November 10, 2021, the CityCoins teams have announced that it is already possible to participate in the mining (creation) of NYCCoin – the name given to this new crypto dedicated to New York.

To do this, participants must bet STX tokens in the smart contract dedicated to New York City. They are then rewarded with NYCCoins, which they can then stake to earn 70% of the STX income generated by the smart contract, while the municipality receives 30% from its own municipal wallet.

The newly elected mayor welcomed this initiative in a Tweet on his official account:

“We are pleased to welcome you to the Web 3.0 World Headquarters. We rely on technology and innovation to move our city forward. “

Will the one who was then only candidate for the post of mayor of New York keep his campaign promise to make the Big Apple a “nerve center” of Bitcoin and cryptos? Eric Adams seems in any case well on the way to keep his word.

Florent Malice
Florent Malicehttps://www.newsalarms.com/
Florent is a passionate blockchain enthusiast, dedicated to exploring the intersection of technology and finance. With a focus on blockchain, web crypto, and NFTs, he contributes insightful analyses and updates to NewsAlarms, offering clarity on the evolving landscape of digital assets.

Latest news

Camp Network Acquires Strategic Stake in KOR Protocol to Accelerate Tokenized IP and AI-Native Content

This partnership brings new IP and creative assets onchain to power new forms of collaborative expression, shared ownership, and...

Ahmed Malik Responds to E-Commerce Disillusionment with Infrastructure-First Amazon Investment Model

Michigan, US, 7th July 2025, ZEX PR WIRE, As the Amazon FBA ecosystem grapples with mounting skepticism, sparked by...

The Business and Peace Gala to Illuminate New York in 2026

A Global Convergence of Visionary Leadership, Strategic Dialogue, and Future-Defining Collaboration New York, NY, 7th July 2025, ZEX PR WIRE, In...

Inside Tearline’s FlowAgent: A Modular AI Agent Bridging the Execution Trust Gap

British Virgin Islands, BVI, 7th July 2025, ZEX PR WIRE, Enterprise-level adoption of AI agents has reached a critical...

World AI Show – Indonesia Begins Tomorrow: Jakarta to Host the Region’s Most Anticipated AI Event

Jakarta, Indonesia ,7th July 2025, ZEX PR WIRE, The wait is almost over. Starting tomorrow, World AI Show – Indonesia,...

Trescon’s CARE series launches in Riyadh, powering Saudi Arabia’s $266 billion vision for a sustainable future

Riyadh, Saudi Arabia, 7th July 2025, ZEX PR WIRE, In response to Saudi Arabia’s ambitious clean energy and sustainability vision...

Must read

MFEV Marathon Success in Serbia: Celebrating Runners, Community, and Charity

MFEV proudly announces the successful conclusion of the MFEV...

Top Cryptos Under $1 to Buy in 2024: Invest Now!

Top Cryptocurrencies to Consider for 2024: Best Picks for...

Must-Grab Crypto Airdrops This August 2024

Get Ready for Exciting Upcoming Crypto Airdrops! Prepare yourself for...

Trending Now: The 5 Best Tap-To-Earn Games Across the Globe

Earn Crypto with These Top 5 Tap-to-Earn Telegram Games The...

Rising Bitcoin Scam in Munich: Police Warn Against Fake Paper Wallets

The Bavarian State Criminal Police Office warns against Bitcoin...

You might also like
Recommended to you