Actor Terry Crews, known for his prominent character on the television series Brooklyn 99, launches its own social currency, $ POWER, via the social cryptocurrency platform Roll.
– terry crews (@terrycrews) March 10, 2021
Speaking to TechCrunch, Crews said the coin is a means of empowering artists. His vision of the coin is that people earn $ POWER by selling their art, NFTs, physical goods and experiences.
Although the details around the token are still vague, according to the project’s website, there will be a cap of 10 million coins (there are currently 3.34 million in circulation). The founders, Crews, Michael Peña (known for Shooter, Tower Heist, Battle: Los Angeles, and many other films), and Dakota Xentaras, “pool the coin on some major exchanges (Uniswap) to determine their initial market offering and reward early $ POWER members and adopters. “
The platform Crews is using to launch its social currency, Roll, raised $ 2.7 million in funding in late 2020., and with around 300 creators, it has already surpassed a market capitalization of $ 1.5 billion.
Powered by Ethereum, Roll allows individuals to create their own ERC-20 tokens to help the creator reach out to fans and consumers. There are currently 44 social currencies on the platform, with the most expensive being $ 77.62, with an increase of 87% in the last 24 hours. Called “Friends with Benefits,” it has no description and it is not clear what it is for.
To own $ POWER is to own a part of Crews, he said: “There is no other way to say it. And I want to be very careful who owns me, no puns“.
Crews has yet to reveal the true extent of what “owning a piece of him” actually entails, though it is noted that the first token holders will have “access” to their equipment.
“As an early $ POWER member, you will have access to our team, and a helping hand to help shape the world of $ POWER and how it serves artists (read: you) in the digital and physical marketplace.”
Till the date, $ POWER tokens have been distributed to approximately 100 people and Crews is engaging with the coin community through Discord.
The actor hopes to eventually add interest-free microcredits to artists as another feature of the $ POWER token.
“That is our long-term plan, to become something this community can live and exist in. You could use it anywhere: at Target, at the grocery store. “
Apparently, the impulse of this new ecosystem comes from an experience that the actor had about four years ago in Milan (Italy). He was unable to access some of his money through a local bank to buy designer furniture from an artist.
“And I’m seeing all these white men and women walk past me in line, and they’re looking at me strangely,” Crews said. “I had been standing there for 15 minutes and little by little I realized that, being black, I was not going to receive my money. That was the moment when I knew that everything had to change for me.“.
“Bringing it up still makes me mad,” he says. “What I love about this new world of finance is that crypto doesn’t know what race you are, or how old you are.“.
Crews hopes $ POWER will give power back to artists and creatorshe explained.
The famous rapper Akon, which is creating a coin for a tech city in Kenya, partnered with Roll last year in an effort to provide support for African influencers to create their own coins And, in return, they can choose to support the various celebrity ventures.