Yes this is correct sort of, our native token name is ACM.

Here is an excerpt from the whitepaper that I think answers your question.

Whitepaper page 12 Section 2.2.2

ACCLAIM TOKENS



Celebreneur The word ‘Celebreneur’ is a portmanteau of the words "celebrity" and "entrepreneur". GCOX aims to be the springboard for
celebrities to enhance their entrepreneurial spirit and become a successful entrepreneur or in their case, a celebreneur.

There are three programmes within GCOXs' Celebreneur platform.
They are:
1. Celeb-merchant
2. Fan-merchant
3. Celeb-auction

Celeb-merchant provides celebrities with a platform to enhance their existing businesses or product lines, and encourages them to
venture into entrepreneurship. This platform will allow celebrities to conduct transactions of goods and services for their existing
businesses.
The Fan-merchant programme will provide opportunities for fans to be merchants on the platform of their favourite celebrity, subject
to their agreement. It is also able to leverage on the celebrities’ tokens for payment.
Lastly, the Celeb-auction programme will allow celebrities to auction their items or memorabilia through this program. There will be
standard items and special items to be auctioned. The item will go to the highest bidder after a set time has passed.
This enhances the functionality of the Celebrity Token; 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.

EDIT:

Whitepaper page 36 Section 5
The ACCLAIM token serves as a means of exchange for the many different Celebrity Tokens corresponding to different celebrities.
The ACCLAIM tokens enable users to purchase the various Celebrity Tokens as well as their associated merchandise and services on the
platform.

Key features of the ACCLAIM token include:
• ACM is the only token accepted for all Celebrity Tokens ITS.
• Users who subscribe for ACCLAIM tokens during the ACM ITS will also receive a one time 20% bonus of Applause tokens.
For further information on ACCLAIM, please refer to Section 7 of this whitepaper entitled “Launch Summary”