Boxing fans will certainly know who Manny Pacquiao is. He’s the celebrated champion from the Philippines. According to the South China Morning Post, the boxer turned singer and politician, “launched his very own cryptocurrency on Sunday at a free concert in Manila, where he serenaded more than 2,000 fans to drum up interest in the product.”
The boxer, who is 40, defeated Keith Thurman to win the WBA Welterweight Super Championship in July this year, and is also a Philippine senator. He hopes to cash in on his “Pac” tokens, which will allow fans to buy his merchandise and interact with him via social media.
The “Pac” token will be listed on Singapore’s Global Crypto Offering Exchange (GCOX) and counts Pacquiao and ex-Liverpool and England soccer star Michael Owen as private investors, along with Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family.
Philippine boxing champion Manny Pacquiao launched his very own cryptocurrency on Sunday at a free concert in Manila, where he serenaded more than 2,000 fans to drum up interest in the product.
It is the world’s first celebrity cryptocurrency. At Pacquiao’s first major concert on Sunday, he sang songs from his own album,which has sold thousands of copies and covers popular love songs.
Aaron Baetiong, 38, who attended the concert, said of the “Pac” tokens, “Pacquiao is idolized by many. People will be encouraged to check this innovation.”
GCOX Founder and CEO Jeffrey Lin reportedly said that the token is not intended to just raise money but to build a token ecosystem.
Singer Jason Derulo also plans to launch his own crypto tokens with GCOX. GCOX’s chief communications officer Evan Ngow said at the time: “We are 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.”