Crypto Platform Targets a Billion Sports Fans As Boxing Champ Rolls Out 'Celebrity Token'

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Sports fans will have two more crypto offerings to enter the digital economy.

Boxing champ and Philippine senator Manny Pacquiao has launched the PAC, his own cryptocurrency. The PAC will allow fans to purchase Pacquiao’s merchandise and interact with him on social media. Pacquiao made the announcement while singing on stage with his wife in front of a crowd of more than 2,000 people. The WBA Super Welterweight champion says the new crypto will enable him to reach out to more people.

The world’s first “celebrity cryptocurrency” will be listed on Singapore-based Global Crypto Offering Exchange (GCOX), which is billed as the world’s first exchange for celebrities who want to “create, list and trade their own crypto tokens” to power engagements with fans.

Pacquiao joins a growing list of athletes who are leveraging blockchain and cryptocurrencies to expand their brands.

Football giants Atlético de Madrid are now on Socios.com, a mobile app and blockchain-based fan engagement and rewards platform. The Spanish team, which finished 4th in UEFA’s Club Coefficients rankings for 2019, becomes the first La Liga team to join the network, along with Juventus, Paris Saint-Germain, AS Roma and West Ham United, offering new fan tokens for their millions of supporters.

According to the announcement,

“The more fans interact with the club through the app, the more rewards they can earn, competing for once-in-a-lifetime experiences, and gaining access to exclusive merchandise, games and leaderboards. Atlético de Madrid Fan Token holders will enjoy exclusive rights on the platform, including access to unique and exclusive experiences, promotions, draws and polls.”

To acquire the tokens, priced at €2, fans will have to purchase Socios.com’s native token ($CHZ) through a cryptocurrency exchange or directly on the app. Fans also have a chance to win Atlético de Madrid Fan Tokens for free by participating in the app’s augmented-reality feature “Token Hunt.”

Socios.com CEO Alexandre Dreyfus says the company is targeting over a billion sports fans around the world.

“[Atlético de Madrid] already have a hugely passionate fanbase in Spain but joining Socios.com will enable the club to further reach, engage and reward a more global audience through innovative blockchain technology. By adding a club of such magnitude, we will grow our own potential user base to well over a billion sports fans, all of whom will be eventual cryptocurrency users.”