Creating wealth while backing good cause puts Panda Token in league by itself
Might there be a way to harness the multiplying value of a cryptocurrency for a good cause? Could it be possible to divert even just a portion of some of the prosperity created through trade in nonfungible tokens (NFTs) to support athletes struggling to breakthrough into the upper echelons of their sports through charitable donations? Would it be possible to make a fortune having some fun betting on the “next big thing” while at the same time helping up-and-coming sportsmen and women?
That was the idea behind a new utility token called The PandaToken (thepandatoken.com). Designed as a new coin to create wealth for its owners as well sports charities, The Panda Token can also be used to buy iconic sports related NFTs. It was launched to give sports fans around the world their own meme token like Shiba Inu or Dogecoin but with real utility for minting and purchasing.
Their hope is that with its Unique Selling Points (USP) The Panda Token could shake up the world of cryptocurrency. Underscoring that strong charitable sports community giveback theme, The Panda Token creators have already given 18% of the total supply to the Peace and Sport organization in Monaco that operates under the patronage of Prince Albert II of Monaco. They are planning to make further substantial donations to at least two other major sports charities.
“We are delighted to be associated with such a project,” said Joël Bouzou, President and Founder of Peace and Sport. “It is a new way for us to build up means in order to deliver peace through sport programs around the world, but we are also gifted to get it from partners who don’t compromise with ethics and values. We hope this partnership will last long.”
Jan Hudec, a former Olympic skier from Canada who helped create The Panda Token with Steven van Zutphen, said: “We had this vision of creating a community, creating value and then find a way to share that value and give some of that back to people in sports.”
Hudec had struggled at times earlier in his skiing career as an unknown entity but never forgot some of the benefactors and sponsors who helped him at critical junctures along the way to the pinnacle of his sport in 2014 when he won Canada’s first Olympic medal in men’s alpine skiing in two decades. “The community in Canada rallied together for me back then and made it all possible because there were people who believed in me. That’s what The Panda Token is all about: creating a community to support athletes and help make things possible.”
Waves of investment manias have ripped around the world in recent years amid bouts of feeding frenzy of interest in cryptocurrencies such as Bitcoin, Dogecoin and NFTs. Their spectacular surges have made more traditional investments in stocks and bonds pale in comparison. These creative new investments have created wealth along with excitement for those in the right place at the right time. Hudec and van Zutphen believe The Panda Token buyers will experience a similarly prosperous ride with the coins that started with a value of just small fractions of a cent but can be expected to rise exponentially as well.
“The big difference with The Panda Token is that we’re giving the largest wallets to charities,” said van Zutphen, a programming whiz who was born in Canada, raised in the United States and lives in Cyprus. “The fact that the Peace and Sport organization holds 18 percent of The Panda Token is a pretty huge story in itself. It puts us on the map immediately.” Another 12.8 percent of the total support went as a gift to TFA Worldwide Association, an organization dedicated to sharing their digital wealth with charities and participants in the football community.
Van Zutphen said another aim alongside the financial support to athletes is to make the somewhat mysterious world of cryptocurrencies a little less mystifying to ordinary investors. People who usually limit their investments to stocks, bonds or currencies are more open than ever to place some of their investment eggs in the red-hot markets featuring instruments such as cryptocurrencies and NFTs. “It’s speculating but for a good cause. We’ve created a playground for you to play and have some fun and hopefully make some money.”
Buyers of nonfungible tokens do not acquire sole ownership, trademarks or copyrights of their purchase but instead receive a simple guarantee that their copy is the authentic one. In NFT sales all computers connected to a cryptocurrency network record transaction on a blockchain, or shared ledger. There is thus a permanent public record of the purchase that serves as a sort of certificate of authenticity. The market is seen by some as entertainment that combines gambling, sports memorabilia trading, investments and day-trading.
The name comes from Hudec, whose nickname was “The Panda” during his skiing career. “Support from the community certainly changed my life,” said Hudec, recalling the sponsors who believed in him. “I hope those who helped me still have a smile on their faces for all the things I accomplished as a skier. And that’s what we’re hoping to do with The Panda Token: To pay this all forward to the next generation.”
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