- The ‘Pac’ token will be listed on Singapore’s Global Crypto Offering Exchange (GCOX)
- Pacquiao’s celebrity status will help with its adoption
- Several other celebrities are planning to launch their own cryptos
Popular Philippine welterweight boxing champion Manny Pacquiao has unveiled his own cryptocurrency. The PAC cryptocurrency will enable the boxing champion’s fans to purchase his merchandise besides socializing with him on social media.
Listed on GCOX
According to a Reuters report on Sunday, September 1, 2019, the 40-year-old boxer who won the WBA Welterweight Super Championship in July and who is also a senator in the Philippines plans to list his PAC token on Singapore’s Global Crypto Offering Exchange (GCOX). During Sunday’s free concert, Pacquiao sang songs from his own album which has sold thousands of copies and covers popular love songs. Commenting, the Founder and CEO of GCOX Jeffrey Lin stated:
“We are not here to raise a lot of money but to build an ecosystem.”
Manny Pacquiao is a hot name in the world of sports as the Filipino boxer has bagged a trove of distinctive medals in the world of international boxing. Pacquiao’s entry into the world of cryptocurrencies is likely to enhance the adoption of digital currencies since he PAC is likely to ride on his identity and popularity. The report states that footballer Michael Owen and Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family, are among private investors of Pac tokens.
Idolized By Many
The announcement comes at a time when cryptocurrencies continue to receive favorable attention worldwide. The possibility that digital currencies could one time unseat fiat currencies is becoming clearer as names of prominent individuals and institutions continue to make a debut into the use cases of digital assets.
The PAC now becomes the first celebrity cryptocurrency even as the tennis player Caroline Wozniacki, footballer Michael Owen, and singer Jason Derulo are also said to be planning to launch their own crypto tokens via GCOX. 38-year-old Aaron Baetiong who attended the concert last Sunday agreed that Pacquiao’s celebrity status is a big plus for PAC tokens and stated:
“Pacquiao is idolized by many. People will be encouraged to check this innovation.”
The PAC’s official website mentions that the boxing superstar’s status and popularity will be leveraged for the adoption of the tokens.
“PAC Token (PAC) rides on the advantage of blockchain by transforming the popularity and brand of Manny Pacquiao into crypto tokens which are quantifiable and exchangeable. Millions of fans will now be able to get closer to their idol Manny Pacquiao by having access to his bespoke fan-celebrity programs powered by GCOX.”
Cryptocurrency is getting much-needed attention for mainstream adoption, due to more big names from every sphere of life, joining the trend as it keeps its widespread consistent.