Actor Terry Crews is going in on the blockchain. With the help of social currency startup Roll, Crews is launching his own social currency, $POWER according to TechCrunch. Roll enables creators to mint and distribute their own social currency, acquire NFTs and then determine the ways in which their communities can earn and spend that social currency.
“Anyone, anywhere, anytime can create their own content,” Roll founder and CEO Bradley Miles told TechCrunch. “We refer to this as mass personalization of content. Right now, Roll is experiencing the same thing with money itself. Anyone, anywhere, anytime can create their own money.”
Currently, there are about 300 creators, including Crews, using Roll. Roll, which has $2.7 million in funding from investors like Balaji Srinivasan, Trevor McFedries and others, recently saw its social currency market cap surpass $1 billion. For example, CEO Bradley Miles gifted the reporter .10 $WHALE (worth about $3) so she could get a better understanding of how creators are already using Roll. $WHALE is backed by tangible and rare nonfungible token assets, which means that she can use $WHALE to buy NFTs. Because Roll enables users to trade their social currency for over 600 other digital assets, that means she could buy the below NFT over on NFT marketplace OpenSea.
In the case of Crews, he envisions folks earning $POWER via blockchain art purchases, NFTs, physical goods and experiences. Initially, Crews is engaging with his $POWER community through Discord. Folks with 50 $POWER, for example, can access a special channel within Discord. To date, Crews had distributed $POWER to about 100 people, he said.
“If I give you $POWER, you own a piece of me,” Crews said. “There’s no other way to put it. And I want to be very careful about who is holding me, no puns intended.” It’s still early days for $POWER, but Crews says he eventually wants to offer interest-free microloans to artists. The ultimate goal with $POWER is to empower artists. “That’s our long-term plan,” Crews said. “To become this thing that this community can live and exist in. You could use it anywhere you are — at Target, the grocery store.”