Davido launches "Echoke Social Token" cryptocurrency. #EchokeForHere

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Nigerian international pop star and multi-award winning musician, David Adeleke popularly known as Davido has announced the launch of his cryptocurrency called ‘Echoke Social Token.’

The father of two made the announcement via his official Twitter account on Tuesday excitedly.

According to the DMW boss, the value created by fans only benefited by some few executives in the boardroom would now be tickled down back to the fans as long as they have an “Echoke Social Token” account.

“Happy to finally announce this thing we’ve been working on for a while. It’s the ‘Echoke Social Token’. Use the hashtag #EchokeForHere. Everyday, millions of fans create value that is captured by a few execs in a boardroom. Not any more. We’re giving the power back to the fans. https://t.co/xJCWP3g2VW

— Davido (@davido) November 23, 2021

Davido who recently gave out N250 million donated to him by friends and fans appears to be the most generous artiste in Nigeria.

He further disclosed that ‘Echoke Social Token would not be sold for now but would be released to fans through periodic giveaways over the next year.

“In the spirit of democracy, we will not be selling the tokens to the public. We will release the tokens to the fans through periodic giveaways throughout the next 12 months. First giveaway on NOV 28th…

Davido said he alongside a Ghanaian tech firm, Bitsika Africa developed the Echoke social token on the Binance smart-chain (BEP-20).

He said the token will give fans access to free giveaways, NFTs, backstage passes, jobs, festivals, exclusive merchandise, media, and hospitality benefits.