Aki Network Launches AKI Token. Is it a Scam?

Aki Network has recently updated its whitepaper to include its new functions and features for its AKI token.

As a multi-utility token, the updates to the paper include the incorporation of priority participation rights for holders to join large-scale events, increased probability for users to secure prizes, and expanded opportunities for community members to participate in the community jury.

The whitepaper goes on to extensively disquality it as a security, likely foreseeing potential problems with the Securities and Exchange Commission (SEC).

Originating in Japan, Aki Network has built quite an online presence, with nearly 400,000 social media followers.

The platform has established connections with almost 500 projects and engaged over 2,400 KOLs.

The community extends to over 6,000 promoters, reaching beyond Japan into English, Russian, Turkish, and Chinese communities.

Aki Network operates as a web3 growth stack, tracking crypto influencer performance using on-chain, data-driven metrics.

The Aki Protocol, currently interacting with over 250,000 unique addresses, serves as a central hub for oracle services and incentivises contributors to the data layer.

There is not much evidence to suggest that Aki Network might be a scam.

Based on our digging, most opinions of Aki appear to be positive.

The network secured significant backing in its recent seed round funding, led by Akatsuki’s Web3 Fund Emoote and Mask Network, valuing the platform at US$40 million.

Notable investors include MZ Web3 Fund, Incuba Alpha, Meteorite Labs, CatcherVC, Alchemy Pay, Futurism Labs, and Oxbull.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.