Manny Pacquiao ventures into cryptocurrency

Senator Manny Pacquiao is venturing into cryptocurrency and will launch the PAC Coin as the first celebrity to create a token.

Pacquiao is an investor in blockchain firm Global Crypto Offering Exchange (GCOX), which enables celebrities to create their own cryptocurrencies called Celebrity Tokens. The Celebrity Tokens can be used to buy exclusive goods and services in relation to the celebrity on GCOX’s platform. It also provides fans access to their favorite stars through interactions via a service called Celeb-Connect. Another service, Celeb-Charity, allows fans to donate to celebrities’ causes using the digital coin. The cryptocurrency value is determined through “open market forces” and is supposed to be indicative of the star’s popularity.

The Filipino boxing icon is reportedly worth over P3 billion. His 2016 statements of assets, liabilities and networth also show he owns over 100 real properties and has P250 million worth of investments.