June 20 (Cointime) - The city of Malmö in Sweden has launched a new initiative to incentivize residents to dispose of cigarette butts responsibly by earning "Buttcoin". Each cigarette butt deposited in special ashtrays will earn the picker-upper 800 Buttcoins, which cannot be exchanged for real money but can win prizes such as real cryptocurrencies like Ethereum.

The competition runs until Aug. 21, and the user with the highest number of Buttcoins will be declared the winner. Malmö hopes to bring environmental responsibility and competitive energy together by introducing Buttcoin, which is not a real cryptocurrency or financial term.