In Singapore, a start-up named GCOX has announced to launch a cryptocurrency which will use the popularity and fame of Manny Pacquiao. The plan is to launch it by the end of this year or the beginning of the year 2019.
Global Crypto Offering Exchange (GCOX) has built a platform which is blockchain powered. The celebrities can tokenize their fame in the startup. GCOX, on its blockchain, has built many platforms like Celeb-Charity and Celeb-Connect. Such platform aims to build a stronger interaction between the celebrities and their fans.
Manny Pacquiao, a famous Boxing legend, in March 2018, collaborated with the platform. Apart from Pacquiao, other celebrities like Michael Owen and Jason Derulo has also signed with the platform.
As per the reports of Straitstimes, GCOX is planning to launch Pac Tokens soon in the market. The tokens are expected to be launched by the end of this year or by the first quarter of 2018. The reason of choosing this time of the year is because they believe that before the end of this year, Philippine SEC will finalize regulation on Initial Coin Offerings (ICO).
Fans of Pacquiao will use these tokens to purchase merchandise like his used boxing gloves and jackets. The ecosystem built on the blockchain uses its base currency ‘Acclaim Token’. As the tokens are validated to each celebrity’s framework, therefore, fans can use it as a medium of exchange between different frameworks.
There’re many other boxing legends that have been in this cryptocurrency market like Floyd Mayweather, who promoted ICOs, Evander Holyfield, who endorsed ICOs which later ceased by the Exchange Commission and US Securities.
Many football players like Stars Carlos Puyol and Andre Iniesta who play for Spain, also stepped into the blockchain powered solutions. They’re the founder of Olyseum, a social network developed for the interaction of fans with their star players.