Philippine Senator and boxing champion Manny Pacquiao’s PAC TOKEN will be launched on Singapore-based GCOX exchange via an initial exchange offering today, November 12, 2019.
PAC Token or PAC COIN, which was launched after a major concert last September can be exchanged for the senator’s merchandise and items for sale online. It can also be used to reach out to the boxing champion himself. Simply exchange the token for an interaction with Mr. Pacquiao. PAC COIN is also a tradeable cryptocurrency that can be exchanged with other tokens like Bitcoin.
These “celebrity tokens” are available on GCOX, the crypto exchange and company that conceptualizes the “tokenization of a celebrity’s popularity and influence”. According to Jeffrey Lin, CEO of GCOX, the exchange aims to support celebrities at different stages of their careers, allowing them to leverage GCOX’s proprietary “Acclaim” blockchain to “immortalize their popularity, whichever stage of their celebrity life cycle they are at.” GCOX aims for celebrities to build a brand image, increase their global visibility, develop partnerships with global brands, and engage fans regularly through the platform.
On GCOX website, PAC Coin Sale will happen on GCOX Sparkle, the exchange’s Initial Exchange Offering Platform. It will begin on November 12, 2019 at 9pm (GMT +8). There will be 3 rounds of PAC Token Sale on November 12, 13, and 14. The tokens will be distributed on November 19, 2019 by 6 pm and will be listed on GCOX exchange on November 21, 2019.
When asked whether GCOX will also apply for a virtual currency exchange license in the Philippines, they said they are forming strategic partnerships with companies with the necessary licenses in the Philippines, but of course, that information will be disclosed to the public in due time. He also said:
“PAC Token is a utility token for all fans of Sen Manny Pacquiao to connect with him, thus for any fan, in any part of the world, who wishes to get closer to Sen Pacquiao and have opportunities to interact with him, he or she should consider having PAC Token. PAC Token is not for speculation but for utility.”