Recently, Philippine professional boxing legend, Manny Pacquiao, has launched his digital coin, known merely as Pac. Moreover, it will register on Singapore’s Global Crypto Offering Exchange (GCOX).
The boxing phenomenon from the Philippines has announced the introduction of his cryptocurrency on its concert in Manila City.
The concert assembly had more than 2,000 fans to fill up the excitement for the new cryptocurrency.
A person who attended the concert spoke about the “Pac” tokens. Aaron Baetiong said, “Pacquiao is idolized by many, people will be encouraged to check this innovation.”
Pacquiao has been relatively active outside of this boxing career. He has been trying to pursue a path in both politics and singing.
The coin could most probably be a way to raise funds for his future political campaigns.
The purchase of Pac tokens will allegedly permit fans to buy merchandise and interact with Pacquiao on social media.
According to news reports, some of the range may include Pacquiao’s music albums, because he also does covers of love songs.
Celebrities Interested in Digital Coins
Pac is the first of its kind since it is the first digital coin of a celebrity. English football legend Michael Owen is also a private investor of Pac.
Owen himself also designated in planning to unveil his cryptocurrency with the GCOX.
These days, celebrities are also jumping on the cryptocurrency bandwagon.
Being one that isn’t launched by a big tech company in the U.S., it likely won’t face as much struggle as Facebook’s Libra.
Meanwhile, back in November, professional boxer Floyd Mayweather Jr. and music producer DJ Khaled received suit by the U.S. Securities and Exchange Commission (SEC). This is due to not acknowledging that they received payment to promote initial coin offerings (ICOs.)
Multiple different political parties all over the world are striving to enter the parliaments of their relative countries.
They have tried the same tactic, which has been showing some actual outcomes among the number of supporters.
It’s quite conceivable that digital coins will fully fund most of the “alternate” political campaigns in the future. This is to show some transparency and avoid any illegal lobbying.