Fans of boxing champion Manny Pacquiao have reason to celebrate this week. The star launches its PAC token on the Sparkle IEO platform of the GCOX exchange. Pacquiao, currently the reigning welterweight world champion, announced in September that he would launch his own token. The IEO ends today, so from tomorrow you can trade the token on the GCOX stock exchange.
PAC is the first so-called celebrity token. Manny Pacquiao is versatile anyway, because in addition to his great boxing career, he is also a chosen senator in the Philippines, his home country. He has also made successful trips to basketball, acting and music. Although successful, you can judge for yourself:
Now he also has his own digital currency. Fans can do a lot of things with the PAC token. Consider buying merchandise, requesting listings on social media and even attending exclusive events. It is the first time that a celebrity has launched such a cryptocurrency, with which they strengthen their brand.
Pacquiao cooperates with the Singaporean GCOX exchange, which is planning to become the preferred exchange for celebrity tokens. Other stars will undoubtedly follow the progress of the PAC launch.
Former England, Liverpool and Real Madrid striker Michael Owen, tennis player Caroline Wozniacki and R&B singer Jason Derulo have all invested in the idea of launching their own tokens on GCOX. A member of the royal family of Abu Dhabi is also involved.
First of many
Sir Dr. Jeffrey Lin, CEO of GCOX, says this will be the first of many: “The PAC token is the first example of combining blockchain with a fan culture and given the dedication of Manny’s supporters, not just in Asia but about the world wide, we are convinced that this will be a success. “
It is still a while before the PAC token becomes a success, but if it is, then it is not unthinkable that others will follow.
Social media has already created a culture where fans are closer to their favorite celebrities than ever before. Almost all big names use social media to communicate with their fans.
First movers advantage
This is perhaps far-fetched, but first movers advantage exists. Bitcoin is the very first and also the largest. Regardless of whether competitors have a faster blockchain or use larger blocks. Tether is the very first stablecoin, there are now tig competitors, but tether is by far the largest. It is even the 5th coin on Coinmarketcap. Binance was the first exchange with its own exchange coin called BNB. Many stock markets follow but cannot match BNB’s success. Another example: Ethereum is the first blockchain that focuses on smart contracts. Many competitors may be a bit further technically, but in terms of popularity and adoption they do not come close to the success of ether.
Another nice principle: celebrity tokens can be the catalyst for crypto to become mainstream. Libra is already doing that a bit, but in a negative way.
When big names follow in the footsteps of Manny Pacquiao, by launching their own token, this can move people to buy cryptocurrency. People who otherwise would never come into contact with crypto. Just because Paquiao is one of the most successful athletes ever, and has a huge worldwide fan base, the Pac token can succeed just like that.
If you can’t get enough of a singing Pacman, here the boxer sings a duet with comedian Will Ferrell.