Terry Crews is launching his own cryptocurrency. Yes, the actor known for films and series (mainly, as the economic Julius of Everybody hates Chris) now embarks on the world of blockchain currencies.
Crews is called $ POWER and was created in partnership with Roll. The company is a startup with the goal of allowing artists to launch their own currencies to be used in their communities.
Roll CEO Bradley Miles explained the idea in an interview with Tech Crunch. According to the vehicle, the coin uses the ERC-20 standard, an Ethereum-compatible token. Simply put, the cryptocurrency would be used in a similar way to credit card points.
In other words, it is not possible to exchange a $ POWER directly for cash, but for specific products, as with card points. The difference here is that there is no bank organizing the transaction, which is regulated by blockchain.
“Anywhere, anyone, at any time can create their own content. We refer to this as the mass customization of content. Right now, Roll is offering the same experience for the money. Anyone, anywhere, anytime can create their own money, ”explains Miles.
Currently, the platform already has approximately 300 content creators, including Terry Crews. $ POWER currently cannot be used to buy a lot. In fact, they act as a bargaining chip so that fans of the artist can enter their private page on Discord. Only 100 people currently have this access for around $ 50 POWER distributed by the creator himself.
Crews’ goal in all this is to be a kind of patron of other artists. He wants to be able to borrow money using the platform. In the end, it also allows people to use their $ POWER to buy products like cinema tickets, streaming platform subscriptions and artwork.
The idea was born exactly from a problem that Crews had when trying to buy furniture, when he visited the Salone del Mobile fair, in Milan, four years ago. He did not have access to enough money to pay for the mobile, precisely because he was out of his country. The actor even contacted his bank, which asked a local bank to release the credit as well. Was denied.
“I watched these white men and women pass in front of me in the queue, looking at me strangely. I stayed in this for about 15 minutes and slowly realized that, because I am black, I would not have my money. That was the moment when I knew it had to change for me, ”” Crews told Tech Crunch.
With his own currency, he points out: “There is no middleman to tell us no”.