Actor Terry Crews, known for his prominent character in the Brooklyn 99 TV series, launches his own social currency, $ POWER, through the social crypto platform Roll.
I launched a social currency on the Ethereum Blockchain $ POWER! Check out this exclusive surname @TechCrunch: https://t.co/JpcdIGFbEA pic.twitter.com/1YFSALQhYb
– terryspanne (@terrycrews) 10 March 2021
In an interview with TechCrunch, Crews said the currency is a way to empower artists. His vision for the currency is that people earn $ POWER by selling their art, NFTs, physical goods and experiences.
Although the details surrounding the sign are still vague, according to the project’s website, there will be a cap of 10 million coins (3.34 million are currently in circulation). The founders, being Crews, Michael Peña (known for Shooter, Tower Heist, Battle: Los Angeles, and many other films), and Dakota Xentaras, “will take the currency together on some mainstream exchanges (Uniswap) to determine its initial market offering and reward early $ POWER members and contractors. ”
The platform that Crews uses to launch its social money, Roll, raised $ 2.7 million in funding by the end of 2020, and with about 300 creators, it surpassed a market capitalization of $ 1.5 billion.
Powered by Ethereum, Roll enables individuals to create their own ERC-20 tokens to help the creator get closer to fans and consumers. There are currently 44 social currencies on the platform, with the most expensive one at $ 77.62 – which has risen 87% in the last 24 hours. It is called ‘Friends with Benefits’, and has no description and it is unclear what it is used for.
He owns $ POWER and owns a piece of crew, and he said, ‘There’s no other way to put it. And I want to be very careful about who is holding me, no pun intended. ”
Crews have not yet revealed the true extent of what “possession of a piece of him” entails, although it is noted that the holders of early tokens will have “access” to their team.
“As an early $ POWER member, you have access to our team and can help you shape the world of $ POWER and how it serves artists (read: you) in the digital and physical market.”
So far, $ POWER tokens have been distributed to about 100 people and Crews is working on Discord’s community with the currency.
The actor hopes to eventually add interest-free microloans to artists as another feature of the $ POWER token.
‘It’s our long – term plan to become this thing in which this community can live and exist. You can use it anywhere – at Target, the grocery store. ‘
The pursuit of this new ecosystem apparently comes from an experience the actor had about four years ago in Milan, Italy. He could not access some of his money through a local bank to buy a designer piece of furniture from an artist.
“And I watch all these white men and women pass me in line, and they look at me strangely,” Crews said. ‘I’ve been standing there for 15 minutes and it slowly occurs to me that I’m not going to get my money because I’m black. That was the moment when I knew everything had to change for me. ”
“If I still put it on, it makes me angry,” he said. “What I love about this new world of finance is that cryptocurrency does not know what race you are, how old you are.”
Crews hope that $ POWER will put power back in the hands of artists and creators, he explained.
The famous rapper Akon, who creates a currency for a technology city in Kenya, worked with Roll last year in an effort to support African influencers to create their own currencies and in return can choose to make the celebrity’s famous. to support different businesses.