Boxing Champion Manny Pacquiao Launches ‘World’s First’ His Own Cryptocurrency

Manny Pacquiao, a Philippine boxing champion that has moved his career on to singing and politics, has launched his own cryptocurrency, Pac.

According to Reuters, Pacquiao’s cryptocurrency will be used by his fans to buy merchandise and to have a chance to chat with him on social media. It’ll be listed on a cryptocurrency exchange called Global Crypto Offering Exchange (GCOX).

The Pac token counts with ex-Liverpool and England soccer star Michael Owen and with Abu Dhabi ruling family member Sheikh Khaled bin Zayed al-Nahyan as investors, and was announced during one of Pacquiao’s concerts, in which he sang songs from his album, which sold millions of copies.

GCOX’s founder and CEO Jeffrey Lin told the news outlet:

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

The report states this is the “world’s first celebrity cryptocurrency,” although more are set to come. As CryptoGlobe covered other celebrities are looking to launch their own cryptocurrencies with GCOX. These include singer Jason Derulo and tennis star Caroline Wozniacki.