- Senator Manny Pacquiao dug his heels on a new venture: Crypto currency
- The world champion and politician dropped the currency at a free concert
- Fans can now buy merchandise and interact with the champion using “Pac” coins
MANILA, PHILIPPINES – Philippine boxing champion turned politician Manny Pacquiao launched his own crypto currency on Sunday at a free concert in Manila where he performed for more than 2,000 fans in order to promote the new venture.
Aptly named “Pac,” the virtual currency will allow fans the opportunity to purchase official merchandise and talk to the politician through his social networks. It will be listed on Singapore’s Global Crypto Offering Exchange (GCOX), whose backers, along with Pacquiao, include English football legend Michael Owen, and Abu Dhabi’s Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family.
The Pac token is the first of its kind – a crypto currency revolving around a celebrity. But it will definitely not be the last. Tennis superstar Caroline Wozniacki, Owen, and singer Jason Derulo are also planning to launch their own tokens with GCOX.
As reported by Coin Telegraph, GCOX’s chief communication officer Evan Ngow said that GCOX is committed to assembling a diverse, multi-talented array of stars at GCOX, and Jason will certainly not be the last musician to join our ranks.”
In a separate interview with Reuters, GCOX Founder and CEO Jeffrey Lin reiterated that the company is geared more towards building an ecosystem, rather than profit.
Sources: ABS-CBN News, Engadget, Cointelegraph