SINGAPOREAN start-up Global Crypto Offering Exchange (GCOX) is expecting a favorable response from both the local and international markets to the soon-to-launch exclusive cryptocurrency of Sen. Manny Pacquiao, called the “PAC Token.”
“We are in Q4 [fourth quarter]. So probably, by the end of the year, we should be able to have our blockchain up and running, and then, we’ll be able to actually have the tokens ready for purchase, as well,” GCOX Chief Communications Officer Evan Ngow told reporters on a sideline during the Blockchain Fair Asia 2018 held recently at the SMX Convention Center Aura, Taguig City.
According to him, they will first conduct a market analysis before they can decide on the initial offering’s value. He said that having a celebrity token like that of the world-renowned boxing icon enhances their “influence to reach out to a lot more” potential buyers or investors.
“Manny has a huge following not just here in [the] Philippines. He’s got a huge following in Singapore, in this region [of] Asia, and the United States, as well,” Ngow noted. “So I think there is really a good opportunity for us to not just be able to create an environment, whether it’s mass adoption, but there will be people who know where we go from here, what we do and how we can influence for the better good.”
The PAC Token is the result of a collaboration between Pacquiao and GCOX, in which the eight-division world champion has been an investor since December 2017. Earlier this year, the boxer-turned-lawmaker announced that he would be launching a virtual currency to connect with his fans. He is set to be the first celebrity to release a blockchain-based token dedicated to him.
The PAC token will be used on GCOX’s digital asset exchange—the first of its kind—to purchase exclusive merchandise and services from Team Manny. It will, likewise, facilitate interactions with his fans via meet-and-greet events, as well as live streaming through a feature known as Celeb-Connect. Other core business platforms on GCOX will include Celeb-Charity, Celebreneur and Celeb-Listing.
“We are proud to have Manny Pacquiao as the first international celebrity on our exchange. Manny and other celebrities will also have the opportunity for increased engagement with their fans, further extending their reach and expanding their popularity” said Sir Jeffrey Lin, CEO of GCOX.
The crypto token runs on proprietary Acclaim blockchain of the Singapore-based firm. Using traditional currencies, ACM must be purchased first in order to buy the PAC tokens.
Ngow revealed that they have been discussing for the past few months with major global blockchain players as partner channels. Apart from Pacquiao, former England striker Michael Owen and R&B singer Jason Derulo are also onboard to launch their respective celebrity tokens.
“We will be signing one more [this] week—a tennis superstar,” the top executive bared, though he declined to reveal the name. The GCOX is the world’s first global celebrity cryptocurrency exchange, wherein famous personalities get the opportunity to tokenize their popularity by creating, listing and trading their own tokens. Through its involvement with A-list celebrities, the company plans to increase the acceptance and adoption of blockchain technology, as well as cryptocurrencies.