Former NFL player and actor Terry Crews becomes the latest entrant inside the cryptocurrency world launching its own crypto allowing users to crypto-monetize themselves through a blockchain-based crediting system. His “social currency” named $POWER was launched via Roll, a social-crypto startup.
The company looks at itself as providing a means to Crews for engaging with their fans and audiences in a new manner. As per TechCrunch, $POWER has been rolled out to about 100 people.
“Social currency” is a new concept unheard of now which is why it is a bit typical to understand now. Basically, the company Roll claims to give creators, the power to “own, control and monetize the value of their social interactions across platforms.” It is kind of like a reward system like Patreon, except that the monetary resource here is specialized crypto instead of real money.
However, an advantage with Roll is that creatives don’t have to act by the pre-established rules of the normal market. They can determine their currencies’ earning methods. Also, the system can be incorporated into the traditional market.
The company has been picking up steam for a while now. Other than this, Rapper Akon has also partnered up with Roll to provide African influencers to create their own currencies on Roll. The rapper has been in favour of cryptocurrencies for quite a while now and had launched Akoin, a cryptocurrency locally used in Akon City. The city is a 2,000-acre development in Senegal.
Also, American pop star and rapper DeAndre Cortez Way, known as “Soulja Boy” recently tweeted about planning to launch his own cryptocurrency.
Roll is not the only one in this space. A social token incubator known as Seed Club is also trying to kickstart this “social currency” concept. The company had held a hackathon in October last year to engage the Ethereum community in the social token industry.