Terry Crews is the latest celebrity making an ambitious move to create his very own cryptocurrency. The actor, former NFL player, and popular game show host has just started to launch his very own social currency through the startup Roll which is a platform that allows creatives to be able to crypto-monetize themselves and their content through a decentralized crediting system that is blockchain-based.
Terry Crews $POWER
The company says that it actually sees itself as a way for certain people like Terry Crews in order to engage with both their fans and their audiences in a completely new way. The previous Expendables cast member could now be offering $POWER, his new cryptocurrency, which has previously been dolled out to just about 100 people according to the reports of TechCrunch. Crews said that when he gives $POWER, people will be owning a piece of him.
It was also noted that the ultimate goal of Terry Crews for $POWER is to be able to empower artists. For those that are confused as to what is "social currency," the concept is actually just fairly new and is also quite hard to define. In Roll's current case, the company now claims to give creatives basically the power to both own, control, and even monetize the value of their very own social interactions made across the platform.
Cryptocurrency on Rolls
According to an article by Gizmodo, every single creative that is using Roll can issue their very own blockchain-based cryptocurrency. This can then be customized for some specific audiences and other content. This was noted to be basically quite a bizarre version of Patreon, except utilizing crypto instead of real money.
With Roll, however, creatives won't have to play by the previously established rules of quite a normal market. Instead, they will be able to get to determine how the particular currency is owned and how the particular currency is spent. The whole system is basically set up to be integrated directly into the traditional market. The company's website provides a brief preview of what could happen within the platform.
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How social currency works
Let's say for example a person called Anna would start a substack newsletter regarding her digital art and offer a sum of 7,000 $DANGER for the first 10 that decide to subscribe. She then wants to spread the word just a little bit more by offering 1,000 $DANGER to the people who decide to retweet her post.
Todd, a new person, who supports Anna's work subscribes to her newsletter and even retweets her post which would earn him 8,000 $DANGER. Anna now creates a few market opportunities within $DANGER where her reported supporters can purchase a shoutout in her newsletter for a whopping 2,000 $DANGER, and even a digital art piece for a whopping $10,000 $DANGER.
Todd reportedly doesn't have enough to be able to get an art piece, but he would still love to show his own support to Anna by purchasing a shoutout. He then spends a sum of 2,000 $DANGER to get a shoutout and gets recognized by her on a weekly basis through her digital art newsletter.
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Written by Urian Buenconsejo
