Crypto craze sees Singapore firm tapping sports stars for tokens

Hong Kong:Global Crypto Offering Exchange is attempting to capitalize on the intersection of avid fanbases—sports and cryptocurrencies—to grab investor dollars in the frenzied initial coin offering space.

The company has teamed up with ex-Liverpool soccer star Michael Owen to issue a cryptocurrency in his name—the OWN coin. Owen joins boxing veteran Manny Pacquiao as investors and issuers of celebrity tokens with the exchange.

“You have to be brave and sometimes put faith in things,” Owen said in an interview in Hong Kong, when asked about investing in still-new cryptocurrencies, which some have derided as worthless.

The tokens will be usable to buy merchandise or make donations to charities chosen by the athletes, as well as for personalized interactions with them. The launch date for the OWN will come next quarter, and it will also be connected to soccer training centers and tutorial programs Owen is developing, according to the Singapore-based Global Crypto Offering Exchange. Bloomberg.