Actor Terry Crews, known for his roles in the “Everybody Hates Chris” and “Brooklyn 99” series, and Old Spice commercials is planning on releasing his own social currency, $POWER, via social crypto platform Roll.
Crews has declared that the currency is a way of empowering artists and that he wants people to earn $POWER by selling NFTs, art, physical goods, and experiences.
The details regarding the token aren’t completely known, but the project’s website mentions that the cap will be 10 million coins (3.34 million are currently in circulation).
The founders, Crews, Michael Peña, and Dakota Xentaras, “will pool the currency onto some mainstream exchanges (Uniswap) to determine its initial market offering and reward early $POWER members and adopters.”
Roll With It
The platform used for launching the social money, Roll, has raised $2.7 million in funding in late 2020. It has 300 creators and has managed to already pass the $1.5 billion market cap.
Powered by Ethereum, Roll lets people create their own ERC-20 tokens as a means of helping the creators get closer to fans and consumers. The platform hosts 44 social currencies – the most expensive one costs $77.62 (an increase of 87% since yesterday).
Crews said that owning $POWER is owning a piece of Crews, “there’s no other way to put it. And I want to be very careful about who is holding me, no puns intended.”
“As an early $POWER member, you’ll have access to our team, and a hand in helping shape the world of $POWER and how it serves artists (read: you) in the digital and physical marketplace.”
$POWER tokens have been sent to around 100 people, and Crews keeps in contact with the community via Discord.
“That’s our long-term plan, to become this thing that this community can live and exist in. You could use it anywhere you are — at Target, the grocery store.”
The idea for this ecosystem is inspired by an experience the actor had four years ago in Milan, Italy, when he couldn’t access some of his money through a local bank to buy a piece of designer furniture from an artist.
“And I’m watching all these white men and women pass me in line, and they’re looking at me strangely,” Crews commented. “I’d been standing there for 15 minutes and it slowly dawns on me that because I’m Black, I was not going to get my money. That was the moment I knew everything had to change for me.”
“Bringing it up still makes me angry,” he added. “What I love about this new world of finance is that cryptocurrency does not know what race you are, how old you are.”