Philippine boxing icon Manny Pacquiao recently rolled-out the Pac token, his very own cryptocurrency.
Investors from Abu Dhabi and Liverpool
According to a report on the South China Morning Post, Pacquiao’s latest endeavor was launched with the financial backing of private investors like Sheikh Khaled bin Zayed al-Nahyan, a member of the ruling family of Abu Dhabi, and Michael Owen, former Liverpool soccer star.
Pacquiao’s token will reportedly be listed on the Global Crypto Offering Exchange (GCOX) of Singapore. The digital currency is expected to pave the way for the boxing champ’s fans to purchase his merchandise and engage with him through social media.
Jeffrey Lin, GCOX found and CEO was purported to say that the Pac token wasn’t developed to simply raise money. It’s also expected to help construct a token ecosystem.
Pacquiao, the current holder of the World Boxing Association’s welterweight title, is also a known figure in Philippine politics. He was voted in as a member of the country’s Senate in 2016.
Several more celebrities are reportedly looking into launching their own digital currencies with GCOX. There have been reports that Jason Derulo, an American singer and songwriter, is also considering releasing his own crypto token on the GCOX platform.
Evan Ngow on the Topic
The exchange platform’s Chief Communications Officer, Evan Ngow, says that GCOX is committed to building a diverse range of multitalented stars and that Derulo won’t be the last musician to sign up with them.
GCOX’s white paper states that the platform’s technology is based on the Acclaim blockchain. It is also designed to give celebrities a certain advantage at different stages of their careers.