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Manny Pacquiao Becomes the World’s First Celebrity to Launch his Cryptocurrency

Philippine’s Boxing Champion Manny Pacquiao has launched his Cryptocurrency on Sunday, September 1, 2019, in a singing concert held in Manila. This launch will not only highlight his fame but also capitalize it to a certain extent.

Manny Pacquiao is a professional boxer, politician, and actor. At present, enjoying being the senator of Philippines. After acquiring so many titles to his name, it is no surprise that the featherweight champion has decided to enter in the cryptocurrency business. The name of his digital currency is ‘PAC’. The Pac token will be registered on GCOX(Global crypto offering exchange) in Singapore.This move will not only allow his fans to buy his merchandise but will also open a way for fans to interact with Pacquiao on social media. The token was launched with the financial aid provided by private investors like Sheikh Khaled bin Zayed al-Nahyan, an Emirati member of the Al Nahyan ruling family of Abu Dhabi and Michael Owen, ex-Liverpool and England’s soccer legend.

GCOX- A New Blockchain based Platform for celebrities

With the course of time, many celebrities are planning to introduce their cryptocurrency with GCOX such as American Singer-Songwriter Jason Derulo; GCOX has claimed that their technology is based on blockchain which is beneficial to celebrities to rise in their career graph. It is a unique move because having an original cryptocurrency to your name is a novelty. Blockchain is decentralized and its virtual nature makes it independent, it doesn’t have to depend on government institutions like conventional currency. This allows fans to be interested in their favorite celebrity and invest in them at the same time.

GCOX founder and CEO Jeffrey Lin stated that he is not here just to raise funds but to build an ecosystem. GCOX has a license granted by the Dubai Multi Commodities Center (DMCC) for propriety trade-in crypto-commodities. These partnerships between celebrities and Global companies are based on the idea that a new platform for fans can be created where they can interact with their favorite personalities in a new way. The special celebrity tokens are made principally for fans and the company will keep providing them with new incentives so they keep investing in the new cryptocurrency.

Manny Pacquiao, Virtual Money, and Cryptocurrency

Manny Pacquiao who is also a singer and has sold more than a thousand copies of his love songs held a free concert on Sunday and announced that he has come up with “PAC”- a new cryptocurrency. At this point, we should explain that cryptocurrencies are of many types and have different names; Litecoin, Ethereum, Bitcoin, Zcash and Dash are some of the most famous forms of cryptocurrencies. Pac is another form of cryptocurrency and is not the only one. With this new combination of celebrity and cryptocurrency, the whole idea of virtual money can take a new turn.

Will this pave the way for other leading celebrities to come up with their specialized currency as well? What our readers think about it? KoinPost would love to have the engaging comments below…

Tags: Crytpocurrency, Bitcoin, PAC, Manny Pacquiao, Philippine, Dubai Multi Commodities Center (DMCC), GCOX