World Welterweight Boxing Champion, Manny Pacquiao of The Philippines joins a list of celebrities to launch their own cryptocurrencies. He announced the launch of “Pac” at a concert in Manila, on Sunday, September 1.
Pacquiao, who is also a senator, looks to leverage his popularity to cash in on the Pac token that has names like ex-Liverpool and England soccer star Michael Owen and Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s royal family, as private investors backing Pacquiao’s venture. It was announced that the Pac token will be listed on Singapore’s Global Crypto Offering Exchange (GCOX).
The Pac token will allow fans to buy Pacquiao’s merchandise and also interact with him on social media. GCOX founder and CEO, Jeffrey Lin said that the main aim of the cryptocurrency was not to raise a lot of money but to create an ecosystem.
American singer-songwriter Jason Derulo is also planning to launch his cryptocurrency on GCOX. GCOX has become the go-to platform for celebrities wishing to launch their cryptocurrencies and is also set to help tennis star Caroline Wozniacki to launch her cryptocurrency as well. In its white paper, GCOX says that its platform, built on the Acclaim blockchain is designed to help celebrities at different points in their careers.