Professional Tennis Player Caroline Wozniacki Launches Cryptocurrency With GCOX Partnership
Caroline Wozniacki Launches Personal Cryptocurrency Token in Partnership With GCOX
Caroline Wozniacki, currently ranked as number two in female tennis worldwide, has reached a deal with the Singapore-based Global Crypto Offering Exchange (GCOX) for the launch of her cryptocurrency token.
Caroline is one of the many superstars that have agreed with GCOX to create personalized tokens. Others include Michael Owen, Manny Pacquiao and Jason Derulo. In exchange for the tokens, fans will receive exclusive collectibles form their favorite celebrities. GCOX would generate revenue from transaction fees.
During the signing of the deal, Wozniacki told Reuters that she felt honored for being the first female to have her own cryptocurrency token. She added that she plans to grow her token before more celebs introduce their own. Wozniacki has been successful this year, winning both the Australian and Chinese Open tournaments.
The first celebrity token from GCOX is expected to become available in Q1 2019. The exchange has revealed that Pacquiao, Owen and Abu Dhabi’s Sheikh Khaled bin Zayed al-Nahyan as private investors to the company. As mentioned earlier, users will have access to exclusive merchandise belonging to their preferred celebs if they buy their tokens. On the other hand, celebrities would earn from the token sales
Before buying celebrity tokens, users must first purchase ACM tokens, the native cryptocurrency of the GCOX platform. According to the GCOX website, the ACCLAIM token (ACM) is the base token for all celebrity tokens on GCOX. The total supply is 1 billion ACM tokens. The token will also act as the means of exchange of the various celebrity tokens on GCOX. Jeffrey Lin, the CEO of GCOX, told Reuters that they intend to raise $600 million from ACM token sales.
Ultimately, GCOX aims to become a global leader in indexing the popularity of various celebrities. By facilitating interactions between fans and their favorite superstars, this platform uses blockchain technology to create value for fans, celebrities and investors.
Lately, there has been an increased partnership between sporting institutions and digital currencies. PSG and Juventus recently became the first popular football teams to declare intentions of launching cryptocurrency tokens for fans. Similarly, Cardiff City and Newcastle United have revealed their pans of fundraising through digital currencies.
Finally, many cryptocurrency platforms are currently using celebrities and sports superstars to promote their projects. This has prompted the SEC to issue a statement ordering celebrities to reveal the nature and amount of compensation they get from participating in such promotions.