Pacquiao launching his own crypto pac token can be considered a very tactical move as he used his star power to perfection. Manny Pacquiao has millions of fans worldwide and the sports celebrity can easily use it not just in his favour 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. 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.
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Manny Pacquiao, the Philippine boxing champion, launched his own Cryptocurrency known as Pac token on September 1, as reported by South China Morning in front of more than ten thousand fans in a concert in Manila. He gathered the financial strength from the former England forward soccer superstar and a member from the Dubai’s royal family in launching his pac token. Pac token is listed on the Singapore stock exchange which is a form of Bitcoin and will help his followers around the world to buy his merchandise which is a facility that Bitcoin offers. Even the exchange’s CEO Jeffrey Lin mentioned at one instance that the said pac token will help to raise crypto awareness to build a token ecosystem and they are not looking to raise money.
Image source: hypebeast.com
Source: Block Publisher
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