We live in an age of exploding technology and radically changing international relations. Nothing shows the intersection of these two worlds more than the recent news that champion boxer Manny Pacquiao has tokenized himself.
Pacquiao made the announcement last week before a crowd of fans in Manilla. The new cryptocurrency, aptly called the ‘pac’, allows fans to purchase merchandise directly from the Philippine boxer, and also interact with him directly.
Pacquiao is the first to officially tokenize himself, in a matter of terms, by offering a participatory share in his personal value. By connecting his own boxing career to his fan base in a peer-to-peer structure, Pacquiao has linked technology with his own fame. But he is certainly not the first celebrity to dip his toe into cryptocurrencies.
For example, Floyd Mayweather Jr., himself a boxer and rival to Pacquiao, heavily promoted CentraCoin—a debit based cryptocurrency project. However, the coin was eventually shuttered after the SEC brought fraud charges against the founders.
Others have also suggested a future self-tokenization. Of particular note, English soccer star Michael Owen has suggested that he will also take the plunge of tokenization. He will do so through the same platform as Pacquiao—the GCOX Group.
The news of celebrities beginning to offer their own self-promoting cryptocurrencies brings clear attention to the realities that are facing the technology as a whole. As blockchain technology and cryptocurrency grows in influence and support, the market continues to find new and interesting ways to tokenize.
Celebrities are just the tip of the iceberg when it comes to tokenization. Everything from real estate to stocks have been suggested as token-worthy, with platforms popping up all over the place to offer such opportunities.
For example, platforms like currency.com have begun to offer tokenized opportunities in securities in global stock exchanges like Belarus and Cyprus. However, the company is also able to offer tokens on the platform that mirror the movement of other securities, like Apple or Google stock.
The movement of companies of this type simply highlights the growing influence of blockchain technology on the market. However, with all this growth, the underlying technological question remains—who will provide the necessary infrastructure to make such tokenized schemes work? The answer comes in the form of technology-centric companies.
Platforms to the rescue?
The need for greater and more robust blockchain offerings is only made clearer by the growing tokenization trend. Few of those pursuing such schemes are savvy enough with technology to produce their own tokens or coins.
This leaves them with just a few options in the market for dealing with the missing technology base. However, some companies have begun to offer just this type of service for their clients.
Take, for example, CPI Tech, a Germany-based firm dedicated to offering the blockchain technology solutions that tokenization platforms need. Designed by blockchain specialists, the firm offers plug-and-play solutions to businesses seeking to participate in the tokenization explosion.
By offering technology solutions, CPI Tech and a few others like them have taken the stress and worry out of tokenizing assets. Such a platform allows companies, businesses, asset holders, and founders to connect directly into the necessary IT solutions that allow for almost immediate tokenization of a host of assets.
The potential that firms of this type create should be obvious. By removing the IT barrier of entry that tokenization requires, these types of solutions make participation in the new wave of asset growth simple and easy.
Clearly the movement toward a B2B technology offering has created a new and better way for firms and asset holders to tokenize assets. But as the movement of blockchain technology continues to grow, the sky is, apparently, the limit.
With tokenized assets, investors are able to own a small share of a variety of assets, all through tokens. This creates the possibility of diversification that falls outside the scope of normal securities markets. Investors can now diversify in any asset that has been tokenized, from boxers to rental properties and back again.
As the world of celebrities and the world of technology collide, one thing remains quite certain. The trend that Pacquiao and the like have started shows no signs of slowing down.