Source: Pixabay
Legendary boxer Manny Pacquiao’s philanthropic foundation is set to use the Shiba Inu ecosystem’s blockchain Shibarium for fundraising and operational activities.
Shibarium developers told CoinDesk that the Manny Pacquiao Foundation, founded by eight-division World Boxing Champion and former Philippine Senator Pacquiao, would begin using Shibarium on Wednesday.
The Foundation is a California 501 (c)((3) nonprofit, and has been accepting Shiba Inu (SHIB) on its website since 2021.
“The Pacquiao Foundation is dedicated to fighting for those in need around the world and has already done so for more than a million people requiring urgent assistance,” said Jon Sisson, Executive Director of the Manny Pacquiao Foundation, in a statement to CoinDesk. “Shibarium will allow us to continue this good work while scaling up operations to help millions more.”
Shibarium is a layer 2 blockchain constructed on the Ethereum network. Layer 2 blockchains are off-chain applications developed atop a foundational blockchain, often characterized by increased speed and minimized bottlenecks in comparison to the base blockchain.
Shibarium is currently in its beta phase, known as PUPPYNET 3, with the goal of fostering digital innovation and enabling swift, cost-effective peer-to-peer transactions.
According to its website, the Manny Pacquiao Foundation seeks to “empower communities and individuals through charitable support and messages of hope.”
The Foundation has completed several housing projects in Uganda and the Philippines, supported medical missions in various cities, and provided relief aid for over 100,000 people.
This isn’t Pacquiao’s first foray into crypto. The renowned boxer has previously served as ambassador for Singapore-based crypto exchange GCOX in 2018, and was involved in the release of the Pac Token. In 2021, Pacquiao announced the launch of PacPay, his crypto and fintech firm.
Through PacPay, fans subscribing to the digital card can deposit funds and make QR code payments at more than 61 million merchants globally.
The boxer has also ventured into the NFT space. In July 2022, Pacquiao launched the “Pacman the Jack Russell” NFT collection and the Manny Pacquiao NFT in collaboration with Lodi Technologies. Pacquiao also collaborated with GameFi Project Xeno for a blockchain project in March this year, releasing exclusive NFT designs available for purchase using stablecoins or credit cards.
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