On the other side of the globe, last September 1, Sunday, Philippine boxing champion Manny Pacquiao launched his cryptocurrency during a free concert in Manila, with over 2,000 of his fans in attendance. The cryptocurrency is called “Pac” tokens, which will allow his fans to purchase Pacquiao merchandise and interact with him on social media.
The Pac tokens will be listed on Global Crypto Offering Exchange or GCOX. Private investors include Manny Pacquiao, Michael Owens (England soccer star and ex-Liverpool member), and Sheikh Khaled bin Zayed al-Nahyan who is part of Abu Dhabi’s ruling family. Pacquiao leads the list on celebrity cryptocurrency, making him the first one to launch his own. Other celebrities such as Caroline Wozniacki, Michael Owen, and Jason Derulo also plan to start their own cryptocurrencies with GCOX.
Instead of making a lot of money, they want to create an ecosystem, according to GCOX founder and Chief Executive Officer Jerry Lin in an interview with Reuters.
“Pacquiao is idolized by many. People will be encouraged to check this innovation,” says Aaron Baetiong, an attendee of the free concert held on Sunday.
During the concert, Manny Pacquiao, who is known as a singer, serenaded the crowd with songs from his own album. Pacquiao reportedly sold thousands of his albums which comprise mostly of his covers of popular love songs.