Tennis star Caroline Wozniacki has signed an agreement with Global Crypto Offering Exchange (GCOX) to start her crypto token, with the company stating it expected ex-soccer star Michael Owen or boxer Manny Pacquiao would be the first to sell such a token next year, Reuters reported on October 18, 2018.
GCOX advertises itself as the world’s leading blockchain platform that gives a road for stars to ‘cryptonize’ their credit and reputation. The startup allows stars to build their own cryptocurrency, called “celebrity tokens,” that can be utilized by supporters to pay for star’s exclusive content. GCOX expects to secure funds through transaction fees.
Wozniacki, who won her first Grand Slam title at the Australian Open in January is the newest icon to join the party, but she is not the first champion associated with a blockchain firm. GCOX pitches Pacquiao and Owen as individual investors in the firm, besides a member of Abu Dhabi’s commanding house, Sheikh Khaled bin Zayed al-Nahyan.
Speaking to Reuters, at a signing commemoration held by GCOX, Wozniacki stated:
To be the first female athlete to have her own token is really cool…I am looking forward to expanding that before other people start getting into it.
GCOX said that the tokens will provide customers with a particular stock and communications with their beloved stars and that the celebrities will get returns from the token sales.
GCOX CEO Jeffrey Lin said that
If everything goes well, the first quarter of 2019 will be the first celebrity token and it could be Michael’s, it could be Manny’s, I am not sure yet.
To buy the celebrity tokens, considered clients must first obtain GCOX’s own tokens called ACM, the trade of which has only recently begun. Lin refused to answer how many ACM tokens had been sold but stated: “In theory, we are trying to raise $300-600 million”.
Wozniacki also said she is looking to shift the drive of a strong performance to the season through to a second consecutive WTA Finals title victory in Singapore next week. CryptoTicker lately reported a series of news describing the developing bond between sports and cryptocurrencies, driven mostly by European soccer teams. PSG and Juventus lately became the first globally known football clubs to declare plans for their very own fan token.
A few days ago, top French league team Paris Saint-Germain, revealed plans to launch its own cryptocurrency. The soccer club has also formed a multi-year strategic partnership with the blockchain platform Socios.com. In this, the tokens issued will be listed and available on the platform Socios.com. It will allow fans to join in the life of the club, in the form of votes or online polls. Token holders will also have the advantage of accessing exclusive rewards, content, and experiences. The platform will use ChiliZ tokens, developed by Socios founder Alexandre Dreyfus.
Juventus FC, a professional Italian football club in Turin, Piedmont is also launching its own fan token with Blockchain Platform Socios.com. The soccer club has announced a multi-year strategic partnership with the blockchain platform. This tradeable Fan Token will allow the Club’s fans across the world to involve by using a mobile voting and polling platform. By using this the Juventus FC will ballot its fans, enabling the supporters’ voice to be heard. This will create an emotional connection between the Club and its fans. Juventus’ fans will have the option to purchase Tokens through an advanced scheme called as a Fan Token Offering (FTO) and Socios.com plan to release the Fan Token as early as Q1 2019.
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.