Why Terry Crews is launching a social currency – TechCrunch

Actor Terry Crew is going in the blockchain. With the help of social currency startup to roam around, Crew is launching its own social currency, $ POWER.

But first, let’s break down what that means. Anyone can create a social posture to change their relationship with fans and users, which hundreds of producers have already done through the roll. Enables roll makers to mint and distribute their social currency ERC 20 standard And then determine the ways in which their communities can earn and spend that social currency.

“Anyone can create their own content anytime, anywhere,” Roll’s founder and CEO Bradley Miles told TechCrunch. “We refer to this as mass privatization of content. Right now, roll is talking only with money. Anyone, anywhere, can make their money anytime. “

By the way I think it is almost like a process of earning and redeeming credit card points, but minus the credit card company and plus blockchain and creators. I have not run this analogy by Miles, but I am going with it. Just how your credit card provider gives you points for using your card and then you can redeem those points for cash, airline tickets, etc. Manufacturers give social currency to fans to engage with their work in various ways Huh. Then, fans can redeem that social currency with more art, content or what have you.

Currently, there are about 300 manufacturers including rolls using crew. Roll that contains $ 2.7 million in financing from investors such as Balaji Srinivasan, Trevor McFedries and others, Recently seen it Social money market cap exceeds $ 1 billion. Bradley Miles gifted me a .10 $ WHALE (worth about $ 3) to give me a better idea of ​​how the producers are using the rolls. $ WHALE is supported by tangible and rare non-junior token assets, meaning I can use my $ WHALE to buy NXT. And because Roll enables users to trade their social currency for over 600 other digital assets, it means that I can purchase the below mentioned NXT on the NXT marketplace OpenSea.

Image Credit: Screenshot / OpenSea

However, you will see that the PodMark Pix 35 WS costs $ 28, so I will not buy this NXT.

In the case of Crew, he encompasses people earning $ POWER through blockchain art purchases, NXT, material goods and experiences. Initially, the crew engages with its $ Power community via disc. For example, folks with 50 $ POWER may use a particular channel within the disk. To date, the crew had distributed $ POWER to about 100 people, he said.

“If I give you $ POWER, you own a piece of me,” Crews said. “There is no other way to put it. And I want to be very careful who is holding me, no pun intended. “

There are still early days for $ POWER, but the crew says it wants to finally introduce interest-free microglanes to the cast. The ultimate goal with $ POWER is to empower artists.

“We have a long-term plan,” Crew said. “To be the thing that this community can and does exist. You can use it anywhere – at Target, the grocery store.”

The crew described his interest in this space as something that happened to him about four years ago.

While in Milan, Crew said he was trying to buy designer furniture from an artist he respected Salone del mobile. He realized that he needed additional money to complete the purchase, but there was not enough cash in his checking account to cover it. So he got on the phone with American Express, he said, who asked him to go to a local bank. American Express, on behalf of the crew, then tried to explain the situation to the local bank manager so that the crew could get the money needed to complete the transaction. The crew said that the local bank manager took one look at it and said, “No.”

“And I’m looking at all these white men and women, who pass me in line, and they’re looking at me strangely,” Crew said. “I stood there for 15 minutes and it slowly dominated me because I’m black, I wasn’t going to take my money,” I said. “This was the moment when I knew that everything would have to change for me.”

The crew ended up going to the check-cashing place, in an area where they said their Uber driver refused to leave, and received the money to pay the fees.

“Bringing it up still makes me angry,” he said. “One of the things I love about this new world of finance is that cryptocurrency doesn’t know what race you are, how old you are.”

Through $ Power, Crew hopes to bring power back into the hands of artists and creators, Crew explained.

“There is no gatekeeper to tell us,” he said.

The crew says they are going to start putting their content in the $ POWER community, where the community will collectively tie it together.

“It’s bigger than me,” he said. “This is a new future.”

For Miles, he envisions a world in which $ POWER is accepted into movie theaters or Paramount Pictures’ assets.

“[Social currency] The dollar is not for change, ”Miles said. “It is complementary [money] And do things that might not be dollar-friendly. “

I asked the crew if that meant he was leaving Hollywood and would focus solely on producing his material for his $ Power community. But Crew said he left Hollywood when he filed a lawsuit against William Morris Endeavor in 2017, accusing an executive of the firm. Crew and WME Settled the suit in 2018.

“And they were done with me,” he said. “But the deal is, that was my power. I still had talent. William Morris threatened that I would end whatever I am doing. But whatever I am doing right now, you cannot take. So that’s when I split from Hollywood. I have never felt like a Hollywood person, even to this day. But every artist feels the same. They want their power. “