On 21st May 2019, Global Crypto Offering Exchange(GCOX) announced the official launch of the GCOX Exchange, a licensed cryptocurrency exchange that offers an unprecedented platform for global celebrities to issue personalised tokens.
GCOX aims to bring cutting-edge blockchain technology to the entertainment industry, giving fans unparalleled access to their favourite stars. GCOX embarked on a whirlwind world tour in 2018. The news of GCOX’s arrival onto the crypto-scene was carried by major global news network including Bloomberg, CNN, Reuters, MSNBC and Channel News Asia, just to name a few.
What makes GCOX so unique? There are 5 things you need to know:
1. Specialization in Celebrity Token
Unlike the mainstream crypto exchanges which have hundreds or thousands of trading pairs and listing of various projects, GCOX Exchange specialises in supporting the entertainment industry, listing exclusive Celebrity Tokens issued by globally-renowned celebrities themselves.
Following the launch of the GCOX Exchange, listing of celebrity tokens in the exchange will take place in the second half of the year. PAC Token will be launched by legendary boxing superstar Manny Pacquiao in Manila, Philippines this September while collaborations with global brands to launch tokens have also been established.
2. Celebrity as Private Investors
GCOX’s unique business model drew the attention of renowned global celebrities including Manny Pacquiao and football legend Michael Owen, who have both committed themselves as private investors and advisors. Other celebrities who have since come on board the GCOX platform are tennis star Caroline Wozniacki and award-winning r&b artiste Jason Derulo.
3. Utility Token and Gas Token (ACM and APL)
The proprietary Acclaim Blockchain runs on 2 tokens — ACM and APL.
ACM is a utility token built on the Acclaim Blockchain, serving as a platform token for all the features on the GCOX platform.
APL is a gas token that fuels the Acclaim Blockchain network. All transactions on the Acclaim Blockchain will require APL to transact and operate, similar to NEO Gas. APL was created to keep the network fee separate from the tokens. One issue faced by Bitcoin is the high network fee as payment is made in Bitcoin. Hence, as the price of Bitcoin rises, so does the network fee. With APL, the network fee will be separated from the ACM token and will not be subjected to a fee increase in the event that the price of ACM increases.
4. Reliable Celebrity Token Economics
In addition to the above, what makes GCOX stand out is the unique tokenomics:
Crypto Exchange: GCOX helps celebrities create, promote and list their Celebrity Tokens on the GCOX Exchange.
Fan-Connect: A unique and bespoke talent discovery platform to allow fans to have greater engagement with their favourite celebrities and be discovered by movers and shakers of the global entertainment industry.
Celebreneur: Fans can purchase exclusive celebrity merchandises and global merchants will be invited on board to list their products and services.
Celeb-Connect: Celebrities will share their success stories, fulfil personal wish-list items requested by fans and connect via pay-per-view live streaming, just to name a few.
Celeb-Charity: We provide a convenient and accessible platform for celebrities and fans to participate in selected charitable projects around the world.
5. Compliance Implementation
GCOX spares no effort to establish world-class security standards as well as implement regulatory compliance throughout the entire GCOX group to protect the interests of users.
GCOX engages well-known risk management companies to manage network security, compliance solutions, market data and due diligence. GCOX also works with recognised Refinitiv, Elliptic and Jumio to handle anti-money laundering (AML) compliance, Combating Financing Terrorist (CFT) and KYC regulations, and risk management to prevent illicit cryptocurrency crimes.