On Sunday, September 1, boxing champion Manny Pacquiao announced the launch of his own cryptocurrency right in front of a crowd of fans in Manila. This currency, named “pac,” is less of a coin than a kind of fan market, giving fans the opportunity to buy goods and interact with Pacquiao. The Pac cryptocurrency exchange rate is supported by the demand for goods of a significant fan base of the boxer.
Pacquiao launches the venture with the help of the GCOX Group, a company in Southeast Asia that has developed a new model for celebrity coins.
“GCOX revolutionizes the way celebrities interact with their fans, giving the public unparalleled access to celebrities,” – the company says on its website. – “This platform also allows celebrities, at the different stages of their celebrity life cycle, to develop, monetize and revitalize their popularity through the various mediums that are housed on the ACCLAIM blockchain”.
Pacquiao will be the first serious test of this model, although Jason Derulo and English soccer star Michael Owen are also planning to launch with GCOX.