cryptoknowmics.com
|
|
Actor Terry Crews is launching his own cryptocurrency $POWER on social crypto platform Roll. The intention behind launching $POWER is to empower artists selling their art, NFTs, physical goods, and experiences. The cryptocurrency will have a market cap of 10 million with 3.34 million coins currently in circulation. Roll is a platform that allows creatives to monetize themselves and their content through a decentralized crediting system based on blockchain.
Crews Creates Social Crypto
Roll allows individuals to create “social currencies”, allowing them the power to own, control, and coordinate their own value and get closer to fans and consumers. It even allows the monetization of their very own social interactions across the platform.
The platform is powered by the Ethereum Network, meaning any Roll social currency is minted and distributed as a standard ERC20 token.
The founders of the social currency include Terry Crews, actor Michael Peña, and Dakota Xentaras, the director of Operations at $POWER.
The currency will be initially pooled onto mainstream exchanges such as Uniswap to determine its initial market offering while rewarding its $POWER adopters early.
In late 2020, Roll raised $2.7 million in funding. The platform has already surpassed a $1.5 billion market cap with currently 44 social currencies on the platform.
$POWER Token’s Long-Term Vision
At the time of writing, $POWER tokens have been distributed to approximately 100 people.
According to Terry Crews, $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.”
Crews hopes to eventually add interest-free microloans to artists as another feature of the $POWER token. He even envisions its usability in the local grocery store:
“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.”