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A Singapore start-up is creating value for celebrities and their fans by letting them interact directly through the start-up's platform. A big part of the project consists of allowing the celebrities to undertake charitable causes and monetize their daily lives.
Forbes India reports that Global Crypto Offering Exchange (GCOX) CEO Jeffrey Lin “always dreamt of a day where he could get up close and shake hands with his favorite celebrity, Michael Jackson.” This dream was turned into to GCOX, which aims to bridge the celebrity-fan gap.
The team intends to achieve this by creating platforms where celebrities will be able to have a token offering. Their tokens can be used on the Celebreneur, Celeb-Connect and Celeb-Charity platforms.
The white paper explains the “three programs within GCOXs' Celebreneur platform” are: Celeb-merchant, Fan-merchant and Celeb-auction.
Celeb-merchant will let celebrities conduct transactions for goods and services for their businesses by using the respective celebrity’s tokens.
The Fan-merchant program will empower fans to be merchants on the celebrity’s platform and accept the respective celebrity’s tokens for transactions.
The Celeb-auction program will allow fans to bid on the celebrity’s exclusive items and memorabilia using the respective celebrity’s tokens.
According to the white paper, “celebrities can thus continue to expand their influence globally as accessibility for fans to purchase their goods and services will improve drastically. This in itself is a major business opportunity as there are currently many potential customers who are currently not able to access these goods and services.”
Celeb-connect aims to enable celebrities to develop closer relationships with their fans through direct engagements, addressing their needs and requests, understanding their fans’ spending habits and — most importantly — cryptonizing their engagement.
The white paper cites four ways in which the celebrity’s tokens can be used on this platform. Firstly, fans will be able to use the celebrity’s tokens to receive a personalized birthday video greeting.
Secondly, pay per view live-streaming will provide fans with the opportunity to get to know their celebrities on a more informal and personal level, while simultaneously allowing celebrities to cryptonize their day-to-day affairs.
Thirdly, fans “may have the option of having a customized wish list where they may, at the approval of GCOX and the celebrity, put forth private request(s) for the celebrity to carry out.”
Finally, holders of the celebrity’s tokens would be eligible to gain access to the celebrity’s annual meet-and-greet sessions.
The purpose of Celeb-charity is to provide celebrities with an avenue to “increase awareness for a particular cause, inspire action for a good deed, crowdfund for community projects or even promote philanthropic work.”
Celeb-charity will provide celebrities with a platform to promote and share their charitable causes with their fans and the general public. It will allow fans to support the celebrity’s philanthropic work and leave a positive impact on others through the use of the celebrity’s tokens.
A desired token
As it has been announced through a Medium post, the “first tranche is 100 percent subscribed” and ended up being 56 percent oversubscribed. This popularity motivated GCOX to extend the token sale until August 18 to build a broader community of users. The Acclaim token (ACM) has been sold during the first tranche at $0.60 per token. The tranche’s second launch and close dates will be announced soon.