Filipino boxing champion Manny Pacquiao has become the world’s first celebrity to introduce his own cryptocurrency to be listed in Singapore’s GCOX.
Manny Pacquiao, world-famous Filipino boxing champion and local politician, recently announced during a concert in Manila on September 1st, 2019, that he is launching the first-ever celebrity cryptocurrency, called the ‘Pac’ token.
Pacquiao made the announcement to over 2,000 audiences attending the concert, stating that his Pac token will be listed on the Global Crypto Offering Exchange (GCOX) in Singapore.
According to the South China Morning Post, Pac tokens will be on offer in the exchange, providing an opportunity for the boxer’s fans to buy merchandise from the celebrity and also interact with Pacquiao on various social media channels.
Private investors of the cryptocurrency reportedly included Pacquiao and Michael Owen, a former soccer player for Liverpool, and Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family.
Apart from the boxer, Danish tennis player Caroline Wozniacki and American singer Jason Derulo have also revealed plans to introduce tokens through listings on GCOX.
According to Jeffrey Lin, Founder and CEO of GCOX, there is potential in celebrity tokens, saying, “We are not here to raise a lot of money but to build an ecosystem.”
Evan Ngow, Chief Communications Officer of GCOX, stated that the platform is “committed to assembling a diverse, multi-talented array of stars at GCOX” and that there are plans to introduce tokens from other musicians in the future.
GCOX’s white paper disclosed that the platform is built on the Acclaim blockchain and is intended to boost the power of celebrities at “different points in their career”.
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