Manny Pacquiao is Latest To Enter The Cryptocurrency Market

Eight division world champion Manny Pacquiao is getting in on the cryptocurrency hype.

According to Entrepreneur Philippines, Singapore-based Global Crypto Offering Exchange (GCOX) announced on Wednesday that the Philippine senator is their newest celebrity ambassador. Pacquiao also invested an undisclosed amount of money in the company.

Cryptocurrencies are digital assets that are a medium of exchange which uses cryptography and not centralized agencies to secure transactions, control and create other units.

mayweather-pacquiao-weights (14)

The company said Pacquiao will use GCOX’s cryptocurrency services, which will allow his fans, apparently through their social network, to interact through a virtual token called PAC Coin, which will enable users to avail of Pacquiao-related content exclusive to GCOX’s platforms.

The startup claims to be “the world’s first platform that tokenizes popularity, enhancing the mainstream adoption of the token economy. GCOX helps celebrities create their personal cryptocurrencies.”

According to GCOX, celebrities and fans exchange through Celebrity Tokens within GCOX. “In this symbiotic ecosystem, ACM is traded for Celebrity Tokens via our proprietary exchange. Celebrity tokens can then be used by fans to redeem goods and services on the core business platforms,” their website reads.

This wouldn’t be Pacquiao’s first investment in Singapore. In 2014, the boxer purchased an undisclosed amount of shares in mixed martial arts company ONE Championship, which is one of the main overseas competitors to the UFC.

Pacquiao is currently serving his first term in the Philippine Senate.

According to Entrepreneur Philippines, the boxer was worth about $167 million as of 2017.

Pacquiao’s camp announced last week that his next match will be on June 24 in Kuala Lumpur, Malaysia, with the target opponent being WBA "regular" welterweight champion Lucas Matthysse, but other parties involved have yet to confirm the date and venue.

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User Comments and Feedback (Register For Free To Comment) Comment by WholeSoul75 on 03-19-2018

Hope this turns into SMART CONTRACTS in BOXING rather than something like fan exclusive merchandise and stuff. blockchain is way overdue in boxing and in music. Truth in plan sight. NSB will have less assumption threads on ppv numbers, everyone…

Comment by Gambino on 03-16-2018

[QUOTE=JuniorTorres720;18576485]Does anyone here actually recommend investing in cryptocurrency or no? And how much is a good first investment if it is a worthwhile investment. Some friends are telling me to invest. I'm more of a precious metals type of guy…

Comment by turnedup on 03-16-2018

[QUOTE=Tha Kid;18577410]Good advice. I bought in on litecoin at 35.52 and sold at $325.00. I bought bitcoin at 4500.00 per coin and sold at 18,000. I dip in and out for quick profits as well. I use and…

Comment by Tha Kid on 03-16-2018

[QUOTE=turnedup;18576554]Before you do learn as much as you can about day trading. The days of 1000% returns are pretty much over due to coin saturation. I bought in when LTC was at 44.63 and sold it at $340 and since…

Comment by Tha Kid on 03-16-2018

I invested in bitcoin, ethereum and litecoin last January 2017 and I made 7 times my initial investment. The market is volatile and I would recommend anybody that wants to invest in cryptocurrency is to invest money that you can…

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