AltcoinsBusiness & Finance

Pacquiao Throws a ‘Crypto Jab’ – Mass Adoption Finally on the Cards?

Celebrities jumping on the crypto bandwagon is very much alive as Manny Pacquiao, the Philippine boxing champion launched his very own cryptocurrency “Pac”, on September 1. South China Morning post reported that Pacquio, also known as “Pacman”, unveiled his crypto in front of more than 2,000 fans at a concert in Manila.

Current WBA Welterweight boxing champion, Pacquiao gathered the financial support from ex England soccer (Football) superstar Michael Owen and  Sheikh Khaled bin Zayed al-Nahyan, Dubai’s ruling royal family member, along with some private investors. The boxer turned politician is also serving as a Philippine senator as he was elected and assumed office in June 2016.

PAC Token Working and Exchange Listing

Pac token is said to be listed on Singapore’s Global Crypto Offering Exchange (GCOX) and will be helpful for Manny Pacquiao’s fans to buy his merchandise and even get a chance to have a one-on-one social media meeting with their very own, ‘Pacman’.

READ ALSO: Does Bitcoin’s Price Truly Represent its Value? Here’s the Answer

It is pertinent to mention here that Pacquiao is also running his charity organization Manny Pacquiao Foundation, that aims to help underprivileged by building them homes. Even the exchange’s CEO Jeffrey Lin, mentioned at one instance that the said token will help to raise crypto awareness to build token ecosystem and they are not looking to raise money.

We are not here to raise a lot of money but to build an ecosystem

Pacquiao Paving Way for Mass Crypto Adoption

Pacquiao launching his own crypto can be considered a very tactical move as he used his star power to perfection. Manny Pacquiao has millions of fans worldwide and the sport celebrity can easily use it not just in his favor but also for mass crypto adoption. He is one of the top sports influencer and his remarkable journey to the top from the slums of Kibawe, has also been well told in the documentary ‘Manny’.

It’s not the first time a top celebrity showed interest in the crypto space. Previously, tennis superstar Caroline Wozniacki and singer Jason Derulo also joined this nascent world of cryptos and made a deal with GCOX, to sell their merchandise.

It is clear that in an effort to expand their business empires by generating multiple revenue streams, celebrities are using their star power to join the world but what effect will it make on the crypto world is yet to be seen as the space is yet to bask in the much awaited institutional investment that will genuinely help the crypto cause.

READ ALSO: Crypto Malware Attacks on Alarming Rise – Even Apple Systems Not Sparred

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Hassaan Malik

Co-founder of BlockPublisher, Hassaan is a technologist at heart with a keen interest in blockchain. Email: hassaan@blockpublisher.com

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