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Many sports personalities have begun making use of cryptocurrencies in various parts of their careers.
Boxing legend Mike Tyson, recently made headlines after he announced the launch of a blockchain and cryptocurrency-based platform for boxers. Another boxer has now entered the crypto space with the launch of their own cryptocurrency.
Manny Pacquiao, a boxing champion from the Philippines, launched a cryptocurrency of his own in Manila on Sunday. The boxer held a free concert for over 2,000 fans at which he then announced his cryptocurrency.
Pacquiao took advantage of the numbers present at the free show to get word of his cryptocurrency out.
Pacquiao’s fans will be able to use the tokens to purchase the boxer’s merchandise and interact with him through his various social media channels.
The crypto asset will be listed on the Global Crypto Offering Exchange (GCOX) in Singapore. England football legend, Michael Owen, is listed as a private investor for the token.
Other private investors include Sheik Khaled bin Zayed al-Nahyan of Abu Dhabi’s ruling family and Pacquiao himself.
The 40-year-old boxer is also part of the senate in the Philippines. His popularity will go a long way in helping the PAC tokens become a mainstay commodity in the country.
Citizens of the Philippines who engage in online Bitcoin trading will be keeping a close eye on the developments around Pacquiao’s cryptocurrency and see how it performs on the various crypto markets.
Pacquiao is one of the first celebrities to create a cryptocurrency of their own, and there are many other celebrities who have digital assets of their own in the works.
Caroline Wozniacki, a tennis star, is also rumored to have plans to launch a cryptocurrency of her own. Jason Derulo, an American musician, is planning on starting his own crypto token.
These cryptocurrencies will also be launched with GCOX, and it might be a sign that this exchange is becoming a popular one among celebrities across the world.
Having celebrities create and promote cryptocurrencies of their own will help this asset class to become part of the mainstream market around the world.
Celebrities such as Pacquiao are revered by many people in their home countries and on an international stage.
Famous personalities can easily convince people to get involved in crypto trading and the industry as a whole would reap significant benefits from having as many celebrities on board as possible.