It wasn’t too long ago some of the world’s most popular cryptocurrencies plummeted in value. Not only are they now on a resurgence, they’re also being created by celebrities.
In a bid to make the most of his worldwide reputation, boxer Manny Pacquiao is creating his own virtual money which will allow fans to buy his merchandise and interact with him via social media.
The 40-year-old WBA Welterweight Super Champion’s coins will be known as “Pac” tokens. The crypto has been listed on Singapore’s Global Crypto Offering Exchange (GCOX).
Pacquiao promoted his new currency at a free concert in the Philippines capital of Manila, where he sang songs from his popular album. Are there any limits to this guys talents? As well as being a successful sportsman, musician and crypto enthusiast, he’s also a Senator in his home country.
It remains to be seen how popular the “Pac” will be, but he’s incredibly popular in his home country and this new innovation has gained momentum. While this may be the world’s first cryptocurrency created by a celebrity, it certainly won’t be the last.
According to Reuters, tennis player Caroline Wozniacki, English football star Michael Owen and singer Jason Derulo are also planning to launch their own crypto tokens with GCOX. Michael Owen is already a private investor in the Exchange, as well as Sheikh Khaled bin Zayed al-Nahyan, who is a member of the ruling family of Abu Dhabi.
It may not be long until you buy exclusive content from your favourite stars and athletes through their very own tokens. That’s exactly the way that Jeffrey Lin, CEO, and Founder of GCOX thinks the entertainment industry will go in the future.
He said in a statement posted on Medium:
In GCOX’s vision of the future, the multi-trillion-dollar entertainment industry will become inextricably entwined with the ever-expanding world of blockchain, leveraging the mass appeal of celebrities to accelerate the mainstream adoption of blockchain.
Lin also explained how easy it would be to reap the benefits of using this new type of technology:
A fan of football legend Michael Owen – a highly decorated player who won the prestigious Ballon d’Or and played for Liverpool, Real Madrid and Manchester United – would like to secure a membership at Michael Owen’s Football Training School for his young son.
Merely a few years ago, this would have entailed the tedious process of placing an order or buying tickets online, using traditional methods of payment which can take days to process. Nowadays, all he needs to do is make a purchase via a few taps on his smartphone.
The transaction is at once both instantaneous and completely secure, by virtue of the efficiency and security provided by blockchain.
What a time to be alive when the”Kard”, “Ari” and “Ed” tokens become the most popular currencies in the world.
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Matt Weston is a lover of electric cars, artificial intelligence and space. From Cornwall, he’s a UCLan graduate that still dreams of being a Formula One driver in the very near future. Previously work includes reporting for regional newspapers and freelance video for the International Business Times.