Danish tennis ace Caroline Wozniacki has now entered the world of cryptocurrency by means of a partnership with Singapore primarily based World Crypto Foreign money (GCOX) to problem a digital token together with her identify.
GCOX promotes itself because the world’s first blockchain platform that gives an avenue for celebrities to ‘cryptonize’ their fame and recognition. The startup permits celebrities to create their very own cryptocurrency, dubbed “superstar tokens,” that can be utilized by followers to pay for star’s unique content material. GCOX hopes to generate profits by means of transaction charges.
Be part of the Main Business Occasion!
The previous World quantity is the newest idol to affix the bandwagon, however she just isn’t the primary athlete concerned with a blockchain agency. Earlier this 12 months, Singer Jason Derulo and former soccer star Michael Owen have additionally collaborated with GCOX to launch tokens for them. Former Filipino boxer Manny Pacquiao was additionally among the many pioneers to affix GCOX.
“To be the primary feminine athlete to have her personal token is actually cool…I’m wanting ahead to increasing that earlier than different folks begin entering into it,” Wozniacki advised Reuters in an interview in Singapore.
Fairly insane pool view from the 57th ground! #singapore #infinitypool pic.twitter.com/daOHRG66WH
— Caroline Wozniacki (@CaroWozniacki) October 17, 2018
Selling Bogus ICOs?
In keeping with GCOX’s plan, its first tokens are scheduled to launch in subsequent quarter and can be used to purchase merchandise or make donations to charities chosen by athletes. On the similar time, the tokens will give its holders an opportunity to interact and join with their favourite stars in an “unprecedented and distinctive approach.”
Reuters quoted GCOX CEO Jeffrey Lin as saying: “if the whole lot goes properly, first quarter of 2019 would be the first superstar token and it might be Michael’s, it might be Manny’s, I’m not positive but.”
ICO operators, and generally ‘scammers,’ are constantly attempting to capitalize on the intersection of sports activities and cryptocurrency fans to seize cash from buyers within the scorching market. The development of the superstar endorsements even pressured the US Securities and Change Fee (SEC) to launch an official assertion ordering the concerned celebrities to reveal the character, scope, and quantity of compensation obtained in alternate for the promotion.