CityCoins, the nonprofit that created MiamiCoin, said it will be launching a similar initiative for New York City.
CityCoins said mining for NYCCoin will begin Wednesday. "It's official. CityCoins are coming to the Big Apple," the organization said in a tweet.
The announcement comes a few days after New York City's Mayor-elect Eric Adams said he hoped to see a city-based token in his city similar to Miami's MiamiCoin. Part of the currency mined to create MiamiCoins is allocated to the city of Miami.
With NYCCoin, "30% will go to the wallet reserved for the city. New York City may decide to claim the wallet's funds at any time," CityCoins said.