Central African Republic to Tokenize 1,700 Hectares of Land Using Meme Coin $CAR
In a bold and controversial move, the Central African Republic (CAR) has announced plans to tokenize over 1,700 hectares of land using a Solana-based meme coin dubbed $CAR, which officials claim represents the country’s “national crypto experiment.”
President Faustin-Archange Touadéra made the announcement this week, revealing that the land, located in Bosongo village, about 45 km west of the capital Bangui, will be made available for global purchase on the Solana blockchain by June 2025.
Land on the Blockchain
The tokenization initiative is framed as part of CAR’s broader ambitions to digitize its natural resources and attract global investment. According to the government decree, buyers around the world will be able to acquire portions of the land using $CAR tokens, which were launched in February 2025. While specific use cases for the land were not detailed, references to CAR’s mining laws and tokenization framework suggest the land may be earmarked for exploration or development of natural resources.
This marks the first known attempt by a nation-state to link territorial real estate with a meme coin, and potentially the first national project to blend resource-based land ownership with crypto-native assets via a public blockchain.
Market Reaction
Following the announcement, the price of $CAR surged by over 20%, according to CoinGecko data, with trading volume spiking 32% in under 24 hours. The token, currently trading at around $0.05 with a market cap of $53 million, had previously faced a sharp decline after its initial launch price of $0.775 collapsed amid public skepticism and allegations of mismanagement.
A National Meme Coin Experiment
$CAR was introduced earlier this year as a “people-powered crypto initiative” meant to unite the country’s population through blockchain technology. However, it has had a rocky start. The launch was marred by:
- Allegations of deepfake video content used in promotional materials, AI detection tools flagged President Touadéra’s initial announcement video as synthetically generated.
- Suspension of social media accounts tied to the project without official explanation.
- Website takedowns, domain provider Namecheap briefly disabled the token’s official site, citing violations linked to “abusive services.”
Despite these issues, the token has rebounded somewhat and now finds itself at the center of a highly ambitious real estate tokenization plan.
Big Picture: CAR’s Ongoing Crypto Gambit
CAR continues to be one of the most crypto-forward nations in the world. In April 2022, it became the second country globally, after El Salvador, and the first in Africa to declare Bitcoin legal tender. Since then, it has introduced the Sango Project (a still-stalled crypto hub initiative), launched tokenization legislation, and now, doubled down with $CAR as a state-endorsed digital asset.
Yet critics remain skeptical. The lack of transparency, regulatory oversight, and persistent rumors of internal manipulation have fueled concerns over whether these moves represent legitimate financial innovation or opportunistic token hype.
Why It Matters
- This marks the first attempt to sell national land parcels via meme coin.
- Could signal a new trend in crypto-real estate convergence, especially in resource-rich, capital-poor nations.
- The token’s recent rebound suggests that, despite controversy, investor appetite remains active—at least for now.
