The Central African Republic (CAR) is moving forward this month with plans to tokenize more than 1,700 hectares of Solana’s land. This is deeply intertwined with controversial Mimecoin, opaque governance and deepfake accusations.
What began as a state-led “crypto-driven development” experiment has transformed into one of the most confused blockchain stories of the year.
Memo coin that ate the story
It’s in the heart of the storm carThe Memecoin was released on Pump.Fun in February and promoted by the automotive president Faustin-Archange Touadéra as a symbol of national unity and economic revival. The token debuted with a flashy video that is said to feature Touadéra herself.
However, the crack appeared almost immediately. The promotional account was suspended within 48 hours. The Persian cipher shop suggested that the video could be generated by AI. Chain detective like Coffee Gilla It noted that over 76% of the token supply is held in just four wallets.
Domain Records revealed that the project website was registered a few days before its release. No official orders or the Official Gazette Law Foundation have been made since then.
In other words, the state’s latest cryptographic experiments are unfolding with the contents of the virus and the haze of unverified claims.
Token statistics vs. national economy
Car deals during pressing $0.056which fell 32% that day, but still increased by more than 300% a month. the The market capitalization is $56 millionthere is a total supply of 1 billion tokens.
This is a sudden boost from February. This was temporarily achieved at a valuation of $500 million, almost 20% of the car’s total GDP. The 24-hour volume is modest $1.28 millionand a completely diluted valuation accounts for around $56.4 million.
The government now says that this memo coin will become the only medium for purchasing tokenized land parcels set for survival June 21st.
The land 1,700 hectares of West Bangui near the village of Bosungo will be provided as an NFT in Solana, but details are lacking. No interfaces have been verified, no published smart contracts, nor publicly published land registration integrations.
Crypto-mirage or RWA milestone?
On paper, car planning can mark a breakthrough in tokenization at the sovereignty level. Sales are roughly linked to national ones 2023 Natural Resource Tokenization Method and Mining codeimplies a potential link to mineral rights. If carried out transparently, this is the first time a government has sold real-world parcels of land in a public chain using blockchain native assets.
However, without legal documents, regulatory guardrails or ministerial oversight, the legitimacy of land sales is a concern. No national or international agents have verified the offer. And previous efforts like the Car’s 2023 “Coracoin” (Bitcoinside Shane Project) ended with a quiet failure without equally bold claims and follow-throughs.
Touadéra’s crypto strategy?
The entire project was propagated primarily through Touadéra’s verified X account (@FA_TOUADERA), posting initial launch video and subsequent to the token milestone updates. In one post, he pledged to donate $50,000 worth of $$$ car proceeds to renovate the school, but no wallet transactions or spending records have been made public. On June 7th, he posted,
“On June 21st, the Central African Republic took a bold step into the future.
Bossongo’s tokenized land will be accessible to everyone via the $CAR of @Solana.
This is more than innovation. It is inclusion, sovereignty and opportunity. ”
However, at this time, there is no public framework for the arbitration of land claims, and there is no public forum for dispute resolution. But the story continues to unfold, surrounded by presidential posts, chain volatility and crypto Twitter discourse.
The official Token website has limited information and is still revealed to be “coming soon.”
Scepticism is on the rise. Analysts and observers point to impressive similarities between $CAR and other memokines, including Trump, in terms of launch structure and insider wallet activity. Deepfake Detection Tools flagged the original announcement video as “probably composite.”
Nevertheless, Solana’s role remains technically confirmed. All trading activities occur via Solana-based DEXS, with token/NFT infrastructure built natively on the network. For Solana, this marks a sovereign use case that is either a strange kind of victory, a geopolitical milestone or a minefield of reputation.
What’s clear is that the latest foray into the Cryptocurrency of the Central African Republic is no longer a quirky headline. Currently a live case study on Memecoin monetization, frontier state crypto politics, and Web3 legitimacy limits.
Tokenized land sales in June will be a litmus test. If real land is sold transparently and the funds benefit local developments, the car will help define a new state-backed model of RWA.
But if sales bubble into steamwear, or even worse, an orchestrated rug becomes apparent, you could enter the Crypto Hall of Fame as one of the boldest “official” experiments that will sprint through the line between innovation and fantasy.
Interest between cars and crypto
This is not the first cryptographic experiment on a car. In 2022, the government adopted Bitcoin as its legal fiat currency and launched Coral Coin, a Bitcoin side chain token intended tokenize natural resources. The efforts were plagued by governance concerns and low international intakes, which resulted in no traction.
The current initiative appears to learn from these missteps by separating from Bitcoin, highlighting tokenized utilities and tapping on Solana’s developer community.
The experiments are rooted in practical questions. Can cryptography provide better land governance in areas where traditional registries are prone to corruption, opaque and inefficiency?
The CAR ranks 171 out of 180 on Transparency International’s corruption index, suffering from foreign investors’ trust in the mining sector, and has been accused of being captured by foreign mercenaries, including armed groups and Wagner Groups.
Tokenization provides radical transparency in theory: immutable records, traceable ownership, smart contract-enabled transactions.
But it also raises an unresolved question: Does the NFT holder have an actual legal title or merely a symbolic claim? How are disputes handled? Are international investors protected under local or foreign jurisdictions?
