Philippine boxing champion Manny Pacquiao may have finally found a way to upstage his arch foil Floyd (’the money-man’) Mayweather. Pacquiao launched his very own cryptocurrency yesterday during a free concert in the Philippine captial Manila, where he serenaded more than 2,000 fans to drum up interest in the product.
The 40-year-old boxer, who is also a senator in the Philippines, this last July defeated Keith Thurman to win the WBA Welterweight Super Championship, hopes to cash in on his “Pac” tokens, which will allow fans to buy his merchandise and interact with him via social media.
The “Pac” token will be listed on Singapore’s Global Crypto Offering Exchange (GCOX) and counts Pacquiao and ex-Liverpool and England soccer star Michael Owen as private investors, along with Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family.
It is the world’s first celebrity cyrptocurrency. “We are not here to raise a lot of money but to build an ecosystem,” GCOX Founder and CEO Jeffrey Lin told Reporters.
“Pacquiao is idolised by millions. People will be encouraged to check this innovation,” Aaron Baetiong, 38, who attended the concert, said of the “Pac” tokens.