Boxing champ Pacquiao launches his own crypto tokens
As a boxer, Manny Pacquiao is used to the limelight.
But on stage with his wife in Manila on Sunday (September 1), this was an altogether different affair for the WBA Super Welterweight Champion.
In front of a crowd of more than 2,000, the 40-year-old launched his very own cryptocurrency.
Pacquiao, who is also a Philippine senator, hopes to cash in on his "Pac" tokens, which will allow fans to buy his merchandise and interact with him on social media.
(SOUNDBITE) (English) BOXING CHAMPION, MANNY PACQUIAO, SAYING:
"I can now reach out to more people all around the world. I will be issuing fun challenges to my fans at a regular basis, so please do me a favour and participate so that I can reward you with loyalty points."
It is the world's first celebrity cyrptocurrency.
The "Pac" token will be listed on Singapore's Global Crypto Offering Exchange.
(SOUNDBITE) (English) GLOBAL CRYPTO OFFERING EXCHANGE CHIEF EXECUTIVE OFFICER, JEFFREY LIN, SAYING:
"We are not here to raise a lot of money but we are here to build a whole ecosystem. So we believe that overtime when the token hit the secondary market, there will be circulation as long as there is utility. So we are a little bit different."
At the concert, Pacquiao sang songs from his own album, which covers popular love songs.
The boxer hopes his cryptocurrency will prove just as catchy.
