As crypto becomes a more global phenomenon, there is the need to make it appeal to more and more everyday investors as well as young people and one of the ways by which various concepts are introduced to the masses is through the vehicle of celebrity. This has been used for various products .services and even political candidates in certain cases and needless to say, a celebrity attachment to a particular product is a very powerful marketing tool.
The world of blockchain and cryptocurrency has taken note of this and several celebrities have endorsed a number of crypto and blockchain-related products to varying degrees of success. However, this has reached new heights as Filipino boxing sensation Manny Pacquaio has successfully launched his highly anticipated cryptocurrency, Pac coin, on September 1, 2019.
PAC Comes to the Market
While the token has just hit the market, it already has a lot of big backers behind the scenes as it is supported not only by one of the Philippines’ biggest celebrities but also former footballer Michael Owen and Sheikh Khaled bin Zayed al-Nahyan, who is of Abu Dhabi’s ruling family.
The token has been listed already on Singapore’s Global Crypto Offering Exchange (GCOX) and according to the management of the exchange, the coin goes beyond just a means of payment but also forms an ecosystem through which fans can interact with Pacquaio, as well as purchase official merchandise relating to his work.
This token has been in development for a while and since it was announced there has been great anticipation for the features and accessibility it will have and it also goes to show the power of celebrity influence as well as its place within the crypto ecosystem as more and more public figures are looking towards cryptocurrency as another source of revenue as GCOX also announced that Jason Derulo, an American singer will also be joining the platform to launch his own token.
“We are committed to assembling a diverse, multi-talented array of stars at GCOX, and Jason will certainly not be the last musician to join our ranks,” GCOX management said.
Should this trying to keep up, celebrity cryptocurrency could become the next big thing within the celebrity endorsement world and further push digital currencies to the forefront.