GCOX will allow celebrities to launch their own cryptocurrencies using their Global Crypto Offering Exchange. Find out how it works today in our review.
What Is GCOX?
GCOX, found online at GCOX.com, is a “Global Crypto Offering Exchange” that claims to be the world’s first exchange helping celebrities create and list their own cryptocurrencies.
Celebrities can use GCOX to launch their own Celebrity Tokens.
Users, meanwhile, can gain unparalleled access to celebrities through the sale of exclusive goods and services, using Celebrity Tokens to complete all purchases. Celebrities might sell meet and greets or signed posters in exchange for Celebrity Tokens, for example.
GCOX sees itself as more than just a cryptocurrency exchange for Celebrity Tokens: it will also provide “the first authoritative popularity index for celebrities” by allowing the open market to choose the most valuable celebrity tokens. Would Donald Trump’s Celebrity Token be worth more money than Manny Pacquiao’s Celebrity Token? GCOX will use the open market to find out.
GCOX has already signed its first celebrity: in December 2017, the company announced it had partnered with Filipino boxer-turned-politician Manny Pacquiao, who plans to launch his own PAC tokens later this year.
How Does GCOX Global Crypto Offering Exchange Work?
GCOX allows the public to gain unparalleled access to celebrities through four core platforms, including Celeb-Listing, Celeb-Connect, Celebreneur, and Celeb-Charity.
GCOX is built on its own Acclaim blockchain. All four components operate using the flow of “Acclaim Tokens”, or ACM, as well as Celebrity Tokens. A built-in exchange will handle all token exchanges.
The ultimate goal of the platform is to revolutionize interactions between celebrities and fans by bringing closer engagement in new and innovative ways.
Here’s how each of the core functions of GCOX will work:
Celeb-Listing is seen as a “popularity index” that uses the value of different Celebrity Tokens to gauge the value of each celebrity. In other words, GCOX’s open market will allow trading for all Celebrity Tokens, then the market will decide what each Celebrity Token is worth. You can gauge the rankings of each celebrity by looking at their market cap and token value.
Celeb-Connect will allow fans to connect with their idols through personalized interactive media, meet and greet sessions, live streaming, and more.
Celebreneur facilitates cryptocurrency transactions in exchange for products and services launched by celebrities. You might be able to spend 10,000 Manny Pacquiao tokens on a meet and greet, for example, or 100 tokens on an autographed picture.
Celeb-Charity is a platform where stars can raise awareness, rally for funds, and promote philanthropic work.
How Does The Acclaim Blockchain Work?
GCOX is built on the Acclaim blockchain. The blockchain has a native on-chain decentralized exchange, or DEX, that aims to provide the best features of decentralized and centralized exchanges. All buy and sell orders are on the blockchain, but there’s no transaction fee when placing buy, sell, or cancel orders. There’s only a transaction fee when orders are filled.
One of the unique features of the Acclaim blockchain is the “Applause Generation Model”. The genesis block of the Acclaim blockchain will generate 1 billion Acclaim tokens and 200 million Applause tokens, although there’s a total supply of 1 billion Applause tokens.
Acclaim uses a delegated Byzantine fault tolerance (dBFT) algorithm to create consensus and confirm transactions. A detailed explanation of this consensus protocol can be found in the GCOX whitepaper.
How Do Acclaim Tokens Work?
The Acclaim blockchain forms the basis for the GCOX platform. That’s why Acclaim tokens (under the symbol ACM) serve as the base currency for all Celebrity Tokens.
Up above, we mentioned that Manny Pacquiao has officially signed with the platform. Pacquiao plans to launch his own “PAC” token using the platform.
Aside from being the base currency for GCOX, ACM tokens will provide the following features:
Users who use ACM to purchase Celebrity Tokens during celebrity ICOs will receive a 20% bonus on their purchase
Users who subscribe to ACCLAIM tokens during the ITS will also receive a one time 20% bonus of “Applause Tokens”
GCOX assures ACM liquidity because the platform charges a 0.1% trading fee to both buyers and sellers; profits from trading fees will be used to purchase ACM from the market to generate demand, and GCOX will commit to locking 50% of the ACM for a one year period to reduce the circulating supply on the market.
Who’s Behind GCOX?
GCOX was founded by Steve Askew (Executive President) along with Sir Dr. Jeffrey Lin (CEO), Loh Chee Tim (CTO), Ong Chee Keong (COO), Vesi Kertikova (CFO), Evan Ngow (Chief Communications Officer), and Abdul Latif Zainal (CIO).
Steve Askew has 30+ years of experience in media and production. He’s the executive producer of “Who Wants To Be A Millionaire?”. He’s the COO of Star TV and the President of Star Entertainment and Fortune Star. He’s also the founder of Phoenix Television and the Executive Producer of Channel V Chinese Music Awards.
The idea for GCOX was formed in February 2017. By December, the company had signed its first celebrity, Manny Pacquiao. They plan to continue launching events with A-list celebrities throughout 2018, with the launch of the GCOX exchange and the GCOX platform completed before the end of Q4 2018.
Manny Pacquiao is listed as a private investor in the company. Other notable names include Michael Owen, the former England National footballer who played for clubs like Liverpool, Real Madrid, and Manchester United.
GCOX ACM ICO Details
There’s a total supply of 1 billion Acclaim tokens and 1 billion Applause tokens. The tokens are launching at a price of 1 ACM = $0.60 USD and 0.2 APL = $0.60 USD.
60% of ACM tokens are allocated to the initial token sale (ITS), which is open to the public. A further 30% of tokens are allocated to the pre-ITS private sale, with 10% going to the GCOX team.
GCOX plans to distribute its tokens in May 2018. Private sales began earlier in Q1 2018. However, it’s unclear when the public token sale will take place.
Global Crypto Offering Exchange, or GCOX, is a blockchain-based platform that allows celebrities to launch and list their own digital currencies.
The company recently made headlines for signing former championship boxer Manny Pacquiao. Pacquiao will launch his own Celebrity Tokens called “PAC Coin” on the platform in the near future. Celebrities can use GCOX to sell merchandise or meet and greets. The platform can also be used to “rank” celebrities: you can check the list of Celebrity Tokens by market cap to discover the most popular – or most valuable – celebrity in the world.
To learn more about GCOX, visit online today at GCOX.com.